Missed Crude Oil Price Rally? The Biggest Move May Still Be Ahead

July 22, 2026

Is Crude Oil Price About To Repeat Its Most Explosive Pattern from History?

Geopolitical tension across the Middle East has kept energy markets on edge for weeks, and crude oil has been the asset showing it the most. Prices have climbed steadily since the start of June, and the move has picked up pace over the past several days. Traders watching crude right now are asking a simple question: how much higher can this run go before something forces a pause?

Brent and WTI crude have both made a strong move since early June. Oil began that month trading close to $70 a barrel, a level that felt almost ordinary compared to what has happened since. Prices pushed higher through June and carried that strength into July.

Today, July 22, crude touched a high near $92 before settling back to trade around $90. That climb from $70 to $90 in under two months marks one of the more eventful stretches oil has seen this year.

The move has not happened in a straight line. Oil pulled back several times along the way before climbing again, a pattern that traders tend to watch closely when deciding whether a rally has real staying power.

What you'll learn 👉

Klejdi Cuni Called These Exact Price Levels Before They Arrived

Trading analyst Klejdi Cuni, who posts under the handle TradingPuzzles, pointed to a bullish setup on the 4 hour chart days before oil reached its current levels. Cuni said oil looked well positioned to move higher and named two specific targets. Oil has already reached both of those levels, with today’s high landing right at the mark Cuni flagged.

#OIL: Well Positioned To Raise Further and Very Risky-That's Why!

Today OIL is well positioned to rise further and the trend on the 4 hour is clearly bullish.
If the price follows this setup OIL should reach 88.5 and 92 soon

However the risk that carries this trade is very… pic.twitter.com/8xdgMp7khy
— KLEJDI CUNI (@TradingPuzzles) July 22, 2026

Two levels stood out in that call:

$88.5, an early target for the move
$92, a level oil hit exactly on July 22

Cuni was also careful to note that the trade carries a high level of risk alongside its bullish potential, and encouraged followers to run their own analysis before acting on the setup.

Not every analyst is convinced this rally has room left without a breather. Ian Cooper, who trades under the handle icooperTrades, pointed out that oil jumped 3.4% overnight and pushed above a trend line he had been watching.

Cooper described that trend line as an area of strong resistance, and said the odds currently favor some kind of pull back. Cooper has not entered a position, and chose instead to wait for confirmation.

A close above that trend line would strengthen the bullish case in Cooper’s view. A drop back below it, on the other hand, would tilt things bearish. Cooper also flagged negative divergences on the 1 hour and 4 hour charts, though the daily chart has not moved into overbought territory. That leaves some room for the rally to continue before a larger reversal becomes likely.

Geopolitical Tension and a Weaker Dollar Are Both Playing a Role

Analyst account Gold FX Pro also pointed to a similar rally earlier in the move. That account described crude climbing from $84.90 to $88.28, a gain of roughly $3.38. The account tied the strength to a mix of factors:

Rising geopolitical tension
Concerns over global supply
A weaker US dollar
Technical breakouts that added buying activity

#WTI #CRUDE OIL SURGES! 🚀

Crude Oil rallied from 84.90 to 88.28 gaining approximately 338 cents.

📊Why Crude Oil is Rising:

*⚠️Geopolitical tensions
*🛢️Supply concerns
*📉A weaker #US #dollar
*📈Strong buying momentum and technical breakouts have triggered additional bullish pic.twitter.com/PmDkO0gR7v
— Gold FX Pro | XAUUSD Signals (@Sanashiekhfx98) July 22, 2026

Past Oil Rallies Show These Moves Can Reverse Quickly

Oil has climbed and reversed quickly before. Previous spikes tied to geopolitical shocks, such as past Middle East tensions, showed similar patterns where prices moved higher fast and then gave back a portion of those gains once the immediate risk eased. That history does not predict what happens this time, but it does explain why several analysts remain cautious even as prices climb.

Two broad paths seem possible from current levels.

Oil could push through the resistance Cooper described and continue toward higher levels. That would extend the run that began back in June.
Oil could also pull back from its current highs, a move several analysts consider likely given how quickly the rally has progressed.

Crude oil has already moved further and faster than many expected heading into summer. Whether this rally keeps climbing toward fresh highs or takes a breather first may come down to how markets read the next moves in the Middle East.

FAQs

Will crude oil prices fall?

Crude oil prices are expected by major institutions, such as the U.S. Energy Information Administration and J.P. Morgan, to fall over the coming year. A persistent global supply surplus—driven largely by high production from the U.S. and Canada—is projected to push Brent crude averages down to $74 per barrel in the third quarter, potentially dropping further into the $60-$65 range by 2027

Who holds 80% of the world’s oil?

The Organization of the Petroleum Exporting Countries (OPEC) holds approximately 80% of the world’s proven oil reserves.

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