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A slight decline in oil prices following record profits

Technical Analysis
By Mostafa Mahmoud
A slight decline in oil prices following record profits
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USOILالنفط الخام 23-12-2025

Oil is trading above the support level of $57.45, and it is likely that prices will move within a range between the resistance level of $58.80 and the previously mentioned support level.​

Support

 57.45​ 55.10​
Resistance 58.80​

60.25​

Crude oil prices recorded a slight decline in the financial markets after the gains achieved in previous sessions, as investors moved to take profits amid ongoing concerns over ample global supply. This movement came as markets awaited developments in global demand and key economic data, alongside a relative easing of geopolitical tensions that had recently supported prices, pushing oil to trade within a narrow range with a downward bias during today’s session.

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Mostafa Mahmoud

Mostafa Mahmoud Technical Analyst at LDN Mostafa has half a decade of experience in the field of financial markets between technical analysis and financial portfolio management, which extends to more than one financial market between stocks, commodities, currencies and the debt markets.

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