NEWS: Crude oil price is increasing 2.5% as geopolitical tensions in the Middle East continue to rise fears on supply shortages.
Possible Scenarios:
if Crude oil fails to breach through R1 of 60.378, our Research Department expects the Crude oil to undergo a short- term downward correction.
If Crude oil manages to break above its R1 of 60.378, our Research Department expects the Crude oil to extend its gains to its R2 of 60.931.
Support and Resistance Levels:
|
Crude oil |
S3 |
S2 |
S1 |
Reference Price |
R1 |
R2 |
R3 |
|
57.796 |
58.349 |
58.902 |
59.640 |
60.378 |
60.931 |
61.484 |
Potential Profit or Potential Loss Calculations:
|
10 cents per 1 trading lot* |
USD |
EUR** |
GBP*** |
||
|
(+/-) $100 |
(+/-) €85.43 |
(+/-) £74.6 |
|||
*1 trading lot is equivalent of 1000 units
**EUR/USD = 1.17058
***GBP/USD = 1.34054
Calculations for exchange rate used as of Wednesday, January 21, 2026, 11:06 GMT