Weekly Special Report: CRUDE OIL

 

TECHNICAL ANALYSIS:

• RESISTANCE AREA: $95–$100. Following the recent decline from levels above $100, crude oil is currently trading around $90. The $95–$100 area remains an important resistance zone, having been tested several times since the Middle East conflict began. A recovery toward this area could face renewed downward pressure, while a break above could support further upside.
• SUPPORT AREA: $85–$80. Crude oil's next important support area is between $85 and $80. Holding above this area could support a rebound, while a break below could increase downward pressure.

GRAPH (Daily): February 2026 – November 2026

Data Source: Meta Trader 4 Platform

Please note that past performance does not guarantee future results

 

Crude Oil, November 5 2026
Current Price:  90.20

 

DOWNTREND

• BREAKING (NOVEMBER 5): CRUDE OIL FALLS TO $86.615, ITS LOWEST LEVEL IN MORE THAN TWO MONTHS. Following the Democrats taking control of both chambers of Congress, expectations have increased that President Trump could face greater political pressure to reach a diplomatic agreement with Iran.
• BREAKING (NOVEMBER 3–5): OPTIMISM RISES AS U.S.–IRAN NEGOTIATIONS CONTINUE. Qatar continues mediating negotiations between Washington and Tehran. Reports suggest the U.S. has approved a draft agreement involving concessions on Iran's nuclear programme and frozen assets, although no final agreement has been confirmed. President Trump also stated that the U.S. has no immediate plans to strike Iran.
• MIDDLE EAST OIL EXPORTS RECOVER: Regional exports have rebounded to approximately 16–19 million barrels per day, approaching the pre-war level of around 20 million barrels per day.
• G7 STRATEGIC RESERVE RELEASES: The G7 agreed to release 100 million barrels of crude oil and diesel from emergency reserves to help offset supply disruptions.

Sources: Reuters, CNBC, Bloomberg, OILPRICE.COM

Example of calculation based on weekly market trend for 1.00 Lot¹

1.  The above calculations are made based on 1.00 lot which is equivalent of 1000 units
2.  Calculations for exchange rate used as of 13:10 (GMT) 05/11/2026

 

You can use risk management tools such as Stop-Loss and Take-Profit

 

UPTREND

• RISKS OF RENEWED U.S. MILITARY STRIKES AGAINST IRAN REMAIN AFTER THE MIDTERM ELECTIONS (NOVEMBER 3). According to Axios, President Trump has not ruled out resuming military strikes against Iran, while U.S. forces continue preparations for possible operations if necessary.
• YEMENI HOUTHIS–SAUDI ARABIA TENSIONS: Houthi attacks against Saudi Arabia have continued, with new missile attacks and security alerts around major oil export facilities, increasing risks to regional oil supplies.
• STRAIT OF HORMUZ AND BAB EL-MANDEB RISKS: Ongoing attacks on oil tankers around the Strait of Hormuz and the Bab el-Mandeb Strait could threaten shipping routes and oil flows, supporting higher prices.
• U.S.–IRAN CONFLICT: Continued military confrontations between the United States and Iran, including attacks involving oil tankers, could heighten supply concerns and sustain upward pressure on crude oil prices.

Sources: Reuters, CNBC, Bloomberg, OILPRICE.COM, Axios

Example of calculation based on weekly market trend for 1.00 Lot¹

1.  The above calculations are made based on 1.00 lot which is equivalent of 1000 units
2.  Calculations for exchange rate used as of 13:10 (GMT) 05/11/2026

 

You can use risk management tools such as Stop-Loss and Take-Profit