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31.07.202608:58 Forex Analysis & Reviews: Trading Signals for CRUDE OIL on July 31, 2026: buy above $80.00 (200 EMA - 5/8 Murray)

Rilevanza fino a 02:00 UTC--4

Exchange Rates 31.07.2026 analysis

Crude oil is trading around $80.92, above the 200 EMA, and rebounding after reaching the psychological level of $80; if the price remains above this zone in the coming hours, it is likely to continue rising.

Crude oil encountered strong resistance around $85. Technically, crude oil is under bearish pressure, and if it falls below $80.00, we could expect the downtrend to continue in the coming days until it reaches the 4/8 Murray level around $75.

The Eagle indicator has reached oversold levels, so we believe crude oil will continue to rise in the coming days. To take long positions, we should closely monitor whether the price consolidates above the 200 EMA or above the 5/8 Murray level.

Looking at the chart, we can see that crude oil left a gap on July 23 around $90. Therefore, as long as the price per barrel of crude oil remains above $81.25, we could expect it to return to these price levels in the coming days.

*La presente analisi del mercato ha un carattere esclusivamente informativo e non rappresenta una guida per l`effettuazione di una transazione.

Dimitrios Zappas,
Analytical expert of InstaSpot
© 2007-2026
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