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May 20, 2026
NEWS: Crude oil price is falling -2.9% after Trump recently reiterated that the probability of reaching a deal with Iran remains good and extended the diplomatic window by a few more days.
Possible Scenarios:
If Crude oil fails to breach through S1 of 99.668, our Analysis Department expects Crude oil to undergo a short- term upward correction.
If Crude oil manages to break below its S1 of 99.668, our Analysis Department expects Crude oil to extend its losses to its S2 of 98.534
Support and Resistance Levels:
|
Crude oil |
S3 |
S2 |
S1 |
Reference Price |
R1 |
R2 |
R3 |
|
97.400 |
98.534 |
99.668 |
101.180 |
102.692 |
103.826 |
104.960 |
Potential Profit or Potential Loss Calculations:
|
10 cents per 1 trading lot* |
USD |
EUR** |
GBP*** |
|
(+/-) $100 |
(+/-) €86.19 |
(+/-) £74.64 |
*1 trading lot is equivalent of 1000 units
**EUR/USD = 1.16025
***GBP/USD = 1.33980
Calculations for exchange rate used as of Wednesday, May 20, 2026, 11:51 GMT+1