Crude oil price is falling 3.3%
November 2, 2026
NEWS: Crude oil price is falling 3.3%, testing levels below $100 again, as optimism increased following three days of talks between Qatar and Iran.
Possible Scenarios:
If Crude oil fails to breach through S1 of 98.459, our Analysis Department expects Crude oil to undergo a short- term upward correction.
If Crude oil manages to break below its S1 of 98.459, our Analysis Department expects Crude oil to extend its losses to its S2 of 97.540.
Support and Resistance Levels:
|
Crude oil |
S3 |
S2 |
S1 |
Reference Price |
R1 |
R2 |
R3 |
|
96.620 |
97.540 |
98.459 |
99.685 |
100.911 |
101.831 |
102.750 |
Potential Profit or Potential Loss Calculations:
|
10 cents per 1 trading lot* |
USD |
EUR** |
GBP*** |
|
(+/-) $100 |
(+/-) €89.15 |
(+/-) £74.54 |
*1 trading lot is equivalent of 1000 units
**EUR/USD = 1.12165
***GBP/USD = 1.34164
Calculations for exchange rate used as of Monday, November 2, 2026, 10:19 GMT