WTI Crude Price Forecast For Oct 25, 2020

Published 10/26/2020, 04:27 AM
Updated 07/09/2023, 06:31 AM

WTI Crude December Future in an endless sideways trend – perfect for scalpers! Shots at strong resistance at 4070/90 worked perfectly on Friday. We hit first support again at 4020/4000 before a retest of last week’s low at 3960/40 for up to 100 ticks in the bag. Same levels apply for today.

Today’s Analysis

WTI Crude holding first resistance at 4000/4020 retests support at 2 week lows at 3960/40. A break below here is a sell signal initially targeting 3890/80 then 3810/3800. .

Above 4020 meets strong resistance again at 4070/90. Shorts need stops above 4120. A break higher retests strong resistance at 4170/4190. A break above 4210 targets 4250/60 & 4300/20 before the September high at 4380/4420.

Trends

  • Weekly Outlook Neutral
  • Daily Outlook Neutral
  • Short Term Outlook Neutral

Light Crude Oil Chart

Latest comments

Loading next article…
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2025 - Fusion Media Limited. All Rights Reserved.