Crude oil price is falling -1.8%
October 29, 2026
NEWS: Crude oil price is falling -1.8% amid renewed diplomatic efforts between the U.S. and Iran, following reports that Vice President JD Vance reached out to Iranian officials to restart negotiation.
Possible Scenarios:
If Crude oil fails to breach through S1 of 98.871, our Analysis Department expects Crude oil to undergo a short- term upward correction.
If Crude oil manages to break below its S1 of 98.871, our Analysis Department expects Crude oil to extend its losses to its S2 of 97.867
Support and Resistance Levels:
|
Crude oil |
S3 |
S2 |
S1 |
Reference Price |
R1 |
R2 |
R3 |
|
96.863 |
97.867 |
98.871 |
100.210 |
101.549 |
102.553 |
103.557 |
Potential Profit or Potential Loss Calculations:
|
10 cents per 1 trading lot* |
USD |
EUR** |
GBP*** |
|
(+/-) $100 |
(+/-) €89.89 |
(+/-) £75.09 |
*1 trading lot is equivalent of 1000 units
**EUR/USD = 1.11242
***GBP/USD = 1.33178
Calculations for exchange rate used as of Thursday, October 29, 2026, 13:32 GMT