empty
24.02.2022 05:09 PM
Trading signals for Crude Oil (WTI - #CL) on February 24-25, 2022: sell below $98.99 (8/8 Murray)

This image is no longer relevant

Crude oil prices (WTI - #CL) soared higher amid the crisis between Russia and Ukraine. The barrel of WTI has risen above $100 a barrel for the first time since July 2014.

Fears point to a disruption in the supply of Russian crude after the recent attack on Kiev.

A third of natural gas passes through Ukraine. If the situation escalates, even if there are no sanctions, it could be impossible to maintain gas transport, forcing Europe to buy in other areas, pushing up the price of crude oil.

Oil will likely be the only long-term winner. In any postwar deal, the world will be prepared to stop buying Russian oil as a punitive measure.

Given that crude oil is showing overbought levels, it is likely that there will be a technical correction in the coming hours towards the area 95.00 or even the psychological level of 90.00.

At the opening of the Asian session, crude oil has left a GAP around the area 92.25. It is likely that in the next few hours it could cover this GAP and from there initiate a technical rebound.

The trend in crude remains bullish, any technical correction in the coming days will be an opportunity to continue buying with targets towards $100.00 and up to the level 106.25 (+1/8).

Our trading plan for the next few hours is to sell below the psychological level $100.00 or at the current levels of 98.99, with targets 7/8 Murray around 95.23 and up to the 21 SMA at 90.00.

Support and Resistance Levels for February 24 - 25, 2022

Resistance (3) 112.50

Resistance (2) 106.25

Resistance (1) 100.00

----------------------------

Support (1) 96.94

Support (2) 95.49

Support (3) 93.75

***********************************************************


Scenario

Timeframe H4

Recommendation: sell below

Entry Point 100.00 or 98.99

Take Profit 93.75; 90.06

Stop Loss 101.50

Murray Levels 100.00 (8/8), 93.75(7/8) 87.50 (6/8), 81.25(5/8)

***************************************************************************

Dimitrios Zappas,
Analytical expert of InstaForex
© 2007-2025
Select timeframe
5
min
15
min
30
min
1
hour
4
hours
1
day
1
week
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST

Recommended Stories

US market tumbles on Trump's tariff moves and weak economic signals

S&P 500 Overview for March 31 US market sees steep decline. Indices hit one-year lows on Trump's tariff moves. Major US indices on Friday: Dow: -1.7%, NASDAQ: -2.7%, S&P

Jozef Kovach 10:12 2025-03-31 UTC+2

Stock Market on March 28th: S&P 500 and NASDAQ in a Difficult Position

At the close of yesterday's regular trading session, U.S. stock indices ended in the red. The S&P 500 dropped by 0.33%, the Nasdaq 100 fell by 0.53%

Jakub Novak 10:29 2025-03-28 UTC+2

US stock market: Trump's tariffs halt uptrend, so benchmark stock indices consolidating. PCE data on investors' radars today

S&P500 Market update on March 28 US stock market: Trump's tariffs halt uptrend, so benchmark stock indices consolidating. PCE data on investors' radars today Snapshot of US stock market

Jozef Kovach 08:46 2025-03-28 UTC+2

US market slides as Trump's tariffs erodes confidence in economic outlook

S&P 500 Overview for March 27 The US market dipped on renewed tariff fears and economic uncertainty. Key US indices on Wednesday: Dow: -0.3%, NASDAQ: -2.0%, S&P 500: -1.1%, S&P

Jozef Kovach 08:58 2025-03-27 UTC+2

Stock Market on March 27th: S&P 500 and NASDAQ Collapsed After Trump's Latest Tariffs

At the close of Tuesday's regular session, U.S. stock indices ended in negative territory. The S&P 500 dropped 1.12%, while the Nasdaq 100 fell by 2.24%. The Dow Jones Industrial

Jakub Novak 08:43 2025-03-27 UTC+2

US stock market displaying modest growth

S&P500 Stock market update on March 26 Snapshot of the US stock indices on Tuesday: * Dow +0%, NASDAQ +0.5%, * S&P 500 +0.2%, * S&P 500 now trading

Jozef Kovach 09:21 2025-03-26 UTC+2

Stock Market Update for March 26th: S&P 500 and NASDAQ Continue Gradual Recovery

At the close of yesterday's regular session, U.S. stock indices finished in positive territory. The S&P 500 gained 0.16%, while the Nasdaq 100 rose by 0.46%. The Dow Jones Industrial

Jakub Novak 08:44 2025-03-26 UTC+2

US stock market gains new bullish momentum. Investors grasp signal that downward correction over

S&P500 Market update on March 25 Snapshot of the US stock market on Monday: Dow +1.4%, NASDAQ +2.3%, S&P 500 +1.8%, S&P 500 trading at 5,767 in a range

Jozef Kovach 11:08 2025-03-25 UTC+2

Stock Market Under Threat of Decline

Yesterday, the S&P 500 stock index posted a solid gain of 1.76%, reaching the target level of 5769 (the low from January 13). At the same time, the signal line

Laurie Bailey 04:59 2025-03-25 UTC+2

S&P 500: from euphoria to collapse

The wave of optimism that swept through US stock markets following Donald Trump's re-election turned out to be short-lived. Euphoria quickly gave way to a deep correction amid escalating trade

Anna Zotova 13:55 2025-03-24 UTC+2
Can't speak right now?
Ask your question in the chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.