NEWS: Crude oil price is falling -1.1% amid persistent concerns about oversupply despite OPEC+’s decision to pause output increases early next year.
Possible Scenarios:
if Crude oil fails to breach through S2 of 59.942, our Research Department expects the Crude oil to undergo a short- term upward correction.
If Crude oil manages to break below its S2 of 59.942, our Research Department expects the Crude oil to extend its losses to its S3 of 59.555
Support and Resistance Levels:
|
Crude oil |
S3 |
S2 |
S1 |
Reference Price |
R1 |
R2 |
R3 |
|
59.555 |
59.942 |
60.329 |
60.845 |
61.361 |
61.748 |
62.135 |
Potential Profit or Potential Loss Calculations:
|
10 cents per 1 trading lot* |
USD |
EUR** |
GBP*** |
||
|
(+/-) $100 |
(+/-) €86.77 |
(+/-) £76.28 |
|||
*1 trading lot is equivalent of 1000 units
**EUR/USD = 1.15252
***GBP/USD = 1.31096
Calculations for exchange rate used as of Tuesday, November 4, 2025, 08:16 GMT