CRUDE OIL
November 2, 2026
Risk Disclaimer: The example below is for illustrative purposes only and is based on price movements derived from Contracts for Difference (CFDs). The calculations reflect hypothetical outcomes using historical or specified price data for the relevant instrument on the stated date and are not indicative of future performance. Any reliance placed on this material is strictly at the user’s own risk.
Weekly Special Report: CRUDE OIL
TECHNICAL ANALYSIS:
- RESISTANCE AREA: $100 - $104. Since the Middle East war began on February 28, 2026, crude oil has reached or exceeded the $100 level 11 times. Historically, prices have stayed above $100 for an average of 2.6 days before retreating below this threshold. However, this does not imply the same outcome will follow.
LATEST TEST: Crude oil tested levels above $100 in the second half of October, spending around 10 days near or above that level. At the time of writing, prices have started pulling back below $100, testing levels near $97.
- SUPPORT AREA: $94 - $90. Following previous tests of the $100 level or higher, crude oil has subsequently retreated to an average level of around $87 or lower.
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 2, 2026
Current Price: 97.50
|
Crude Oil |
Weekly |
|
104 |
|
|
102 |
|
|
100 |
|
|
94 |
|
|
92 |
|
|
90 |
DOWNTREND
- BREAKING (OCTOBER 30 - NOVEMBER 1): OPTIMISM ROSE FOLLOWING THREE DAYS OF TALKS BETWEEN IRAN AND QATAR. Iranian and Qatari officials held three consecutive days of negotiations in Tehran and Doha, seeking to reach an agreement with the United States to end the conflict and reduce regional tensions. The main proposal involves reopening the Strait of Hormuz within two days.
- 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
|
CRUDE OIL |
||||||
|
Pivot Points |
||||||
|
Profit or loss in $ |
-6,500 |
-4,500 |
-2,500 |
3,500 |
5,500 |
7,500 |
|
Profit or loss in €2 |
-5,797 |
-4,013 |
-2,230 |
3,122 |
4,905 |
6,689 |
|
Profit or loss in £2 |
-4,846 |
-3,355 |
-1,864 |
2,609 |
4,100 |
5,591 |
|
Profit or loss in C$2 |
-9,084 |
-6,289 |
-3,494 |
4,891 |
7,687 |
10,482 |
- The above calculations are made based on 1.00 lot which is equivalent of 1000 units
- Calculations for exchange rate used as of 14:00 (GMT) 02/11/2026
You can use risk management tools such as Stop-Loss and Take-Profit
UPTREND
- RISKS REMAIN HIGH AS U.S. PRESIDENT DONALD TRUMP COULD ORDER MILITARY STRIKES AFTER THE U.S. MIDTERM ELECTIONS (November 3). President Donald Trump could consider military strikes after the November 3 midterm elections.
- YEMENI HOUTHIS–SAUDI ARABIA TENSIONS: Intensifying hostilities between the Yemeni Houthis and Saudi Arabia could increase regional instability and put further upward pressure on crude oil prices.
- STRAIT OF HORMUZ AND BAB EL-MANDEB RISKS: Ongoing security concerns 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
Example of calculation based on weekly market trend for 1.00 Lot1
|
CRUDE OIL |
||||||
|
Pivot Points |
||||||
|
Profit or loss in $ |
6,500 |
4,500 |
2,500 |
-3,500 |
-5,500 |
-7,500 |
|
Profit or loss in €2 |
5,797 |
4,013 |
2,230 |
-3,122 |
-4,905 |
-6,689 |
|
Profit or loss in £2 |
4,846 |
3,355 |
1,864 |
-2,609 |
-4,100 |
-5,591 |
|
Profit or loss in C$2 |
9,084 |
6,289 |
3,494 |
-4,891 |
-7,687 |
-10,482 |
- The above calculations are made based on 1.00 lot which is equivalent of 1000 units
- Calculations for exchange rate used as of 14:00 (GMT) 02/11/2026
You can use risk management tools such as Stop-Loss and Take-Profit
