How to analyze a crude oil (WTI) chart with AI

What makes oil charts different

• There are two benchmarks. WTI is US crude and Brent is the international benchmark; on CFD platforms they often appear as USOIL and UKOIL. They move together but not in lockstep, so analyze the one you trade.
• Oil is quoted in dollars per barrel, to the cent. On a standard WTI futures contract of 1,000 barrels, each $0.01 move is worth $10; on CFD platforms the value depends on your broker's contract size.
• Scheduled news moves it. The weekly US inventory report from the EIA, usually on Wednesday at 10:30 a.m. New York time, and OPEC+ production decisions can push price through key levels in minutes.
• Futures contracts expire every month. A continuous futures chart can show a jump when one contract rolls into the next, and CFD prices are adjusted around the same time, so a sudden gap is not always a real move.

New to AI chart analysis?

Check that the symbol label shows which benchmark you are looking at before you take the screenshot. Everything else, from capturing the chart to reading the report, is covered in the main guide.

• How to analyze a trading chart with AIHow AI chart analysis works: screenshot any trading chart, upload it, and read the trend, key levels, both scenarios and a trade plan. With real examples.

A real example: WTI crude on the 1-hour chart

Below is a 1-hour WTI crude chart from 13 October 2026, plotted with its 50- and 200-period EMAs, followed by Wick's read of it.

How to read this result

Oil had climbed from below $87 to a high of $94.36 and was pulling back toward the rising EMA 50, which sat above the EMA 200. Wick called the trend up, named the pattern a bullish pullback and gave the bullish case 56%: a lean, not a strong conviction.

The plan follows the bullish case. It waits for a 1-hour close above $92.70, enters on a successful retest of that level, places the stop below $92.20 and targets $94.00. That risks $0.50 a barrel to make $1.30, about 1:2.6. The bearish case needs a break below $91.80, with a stop at $92.30 and a target of $90.80: $0.50 of risk for $1.00 of reward, 1:2.

At $92.10, price was between support and resistance, so neither plan was active yet. Volume was decreasing during the pullback.

Tips for oil charts

• Check the calendar for the weekly inventory report and OPEC+ meetings before relying on a short-timeframe setup.
• The American Petroleum Institute publishes its own inventory estimate on Tuesday afternoons, so oil often reacts a day before the official EIA figures.
• Watch for gaps at contract rolls and at the Sunday open, and do not read them as normal price action.
• Oil moves the currencies of big producers too. A sharp oil move often shows up in USD/CAD, as the Canadian dollar tends to strengthen when oil rises.