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New Attempts for Oil to Recover

Technical Analysis
By Shady Fouad
New Attempts for Oil to Recover
0 2

USOIL

النفط الخام 26-2-2025

Oil is trading above the $68.35 support level, and prices are likely to target the $70.20 resistance level. However, this scenario would be invalidated if the aforementioned support level is broken to the downside.

Support

 68.35 66.55 –
Resistance 70.20 72.90

74.90

The crude oil markets experienced significant volatility. Brent crude futures for April delivery declined by 2.35%, or $1.76, settling at $73.02 per barrel, marking the lowest level in over two months. Similarly, WTI crude futures for April delivery dropped by 2.5%, or $1.77, to reach $68.93 per barrel.

This decline came amid reports of a 640,000-barrel decrease in U.S. crude oil inventories over the past week, according to data from the American Petroleum Institute. Additionally, distillate inventories fell by approximately 1.1 million barrels.

Overall, the performance of crude oil on this day reflects the influence of various interrelated factors, including fluctuations in U.S. stockpiles, trade policies, and global demand expectations, leading to price volatility in global markets.

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Shady Fouad

Shady Fouad is a technical analyst at LDN Company
Shady's strategic vision in the currency markets is reinforced by more than fifteen years of trading experience, which enables him to blend economic and technical analyzes with high efficiency, and find the best investment ideas for traders.

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