Crude oil price is falling -1.3%
October 29, 2026
NEWS: Crude oil price is falling -1.3% with reports that the Trump administration is considering a temporary agreement and Vice President JD Vance has reached out to Iran to restart negotiations.
Possible Scenarios:
If Crude oil fails to breach through S1 of 99.711, our Analysis Department expects Crude oil to undergo a short- term upward correction.
If Crude oil manages to break below its S1 of 99.711, our Analysis Department expects Crude oil to extend its losses to its S2 of 98.707
Support and Resistance Levels:
|
Crude oil |
S3 |
S2 |
S1 |
Reference Price |
R1 |
R2 |
R3 |
|
97.703 |
98.707 |
99.711 |
101.050 |
102.389 |
103.393 |
104.397 |
Potential Profit or Potential Loss Calculations:
|
10 cents per 1 trading lot* |
USD |
EUR** |
GBP*** |
|
(+/-) $100 |
(+/-) €89.77 |
(+/-) £75.12 |
*1 trading lot is equivalent of 1000 units
**EUR/USD = 1.11401
***GBP/USD = 1.33126
Calculations for exchange rate used as of Thursday, October 29, 2026, 08:58 GMT+1