Crude oil price is rising 1.9%
October 20, 2026
NEWS: Crude oil price is rising 1.9% to its highest level in more than one month as tensions in the Middle East continue to rise following Houthi attacks on Saudi Arabia and further attacks on ships in the Strait of Hormuz.
Possible Scenarios:
If Crude oil fails to breach through R1 of 101.510, our Analysis Department expects Crude oil to undergo a short- term downward correction.
If Crude oil manages to break above its R1 of 101.510, our Analysis Department expects Crude oil to extend its gains to its R2 of 102.492.
Support and Resistance Levels:
|
Crude oil |
S3 |
S2 |
S1 |
Reference Price |
R1 |
R2 |
R3 |
|
96.926 |
97.908 |
98.890 |
100.200 |
101.510 |
102.492 |
103.474 |
Potential Profit or Potential Loss Calculations:
|
10 cents per 1 trading lot* |
USD |
EUR** |
GBP*** |
|
(+/-) $100 |
(+/-) €89.07 |
(+/-) £74.88 |
*1 trading lot is equivalent of 1000 units
**EUR/USD = 1.12268
***GBP/USD = 1.33543
Calculations for exchange rate used as of Tuesday, October 20, 2026, 09:55 GMT+1