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Oil rebounds after the recent decline

Technical Analysis
By Mostafa Mahmoud
Oil rebounds after the recent decline
0

USOILالنفط الخام 18-2-2026

Oil is trading around the $62 support level, and prices are likely to break below it and target the $59.45 level. This scenario would be invalidated by a break above the $66 resistance level during today’s trading session.​ 

Support

 62.00​ 59.45​
Resistance 66.00​​

66.50​​

The global crude oil market witnessed a decline in prices, with Brent and WTI crude trading around $62 per barrel. This drop came after improved market sentiment due to progress in talks between the United States and Iran, which eased concerns over potential disruptions to oil supplies through the Strait of Hormuz. Selling pressure and profit taking following previous gains also contributed to the downward trend, amid volatile trading and moderate liquidity, reflecting investors’ cautious anticipation of any developments that could impact oil markets in the coming days.

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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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