NEWS: Crude oil price is rising 2.3% after OPEC+ V8 group decided to increase November output levels by less than previously expected.
Possible Scenarios:
If Crude oil fails to breach through R1 of 62.622, our Research Department expects Crude oil to undergo a short- term downward correction.
If Crude oil manages to break above its R1 of 62.622, our Research Department expects Crude oil to extend its gains to its R2 of 63.104.
Support and Resistance Levels:
Crude oil |
S3 |
S2 |
S1 |
Reference Price |
R1 |
R2 |
R3 |
60.374 |
60.856 |
61.338 |
61.980 |
62.622 |
63.104 |
63.586 |
Potential Profit or Potential Loss Calculations:
10 cents per 1 trading lot* |
USD |
EUR** |
GBP*** |
(+/-) $100 |
(+/-) €85.78 |
(+/-) £74.48 |
*1 trading lot is equivalent of 1000 units
**EUR/USD = 1.16571
***GBP/USD = 1.34259
Calculations for exchange rate used as of Monday, October 6, 2025, 11:24 GMT+1