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20.10.202619:22 Forex Analysis & Reviews: Trading signals for CRUDE OIL on October 20-22, 2026: sell below $101.00 (21 SMA - 8/8 Murray)

Relevance up to 17:00 UTC+00

Exchange Rates 20.10.2026 analysis

Crude oil is trading around $100.24, pulling back after reaching the upper band of the uptrend channel that has formed since October 5.

Crude oil reached strong resistance levels around the psychological level of $100, which also coincided with the 8/8 Murray line, but it may struggle to continue rising since it is technically in an overbought zone and could see a technical correction in the coming days toward the lower band of the uptrend channel around $97.

If crude oil falls below the psychological $100 level in the coming hours, this could be considered a selling opportunity with targets at 98.35—around the 21 SMA—and it could even reach the lower band of the uptrend channel. If a break occurs in this area, it could reach $95, which represents strong weekly support.

A technical rebound above $95 or $97 could be seen as a positive signal to buy in the coming days, with targets at $100 and $102.75, and finally, we expect it to reach the +1/8 Murray level around 106.25.

The Eagle indicator is showing a negative signal, so we believe crude oil could continue to fall in the coming hours; we should monitor the 8/8 Murray level in case the price undergoes a technical correction.

Given that the trend for crude oil remains bullish, a technical correction could present an opportunity to take long positions; therefore, we should keep an eye on the support levels of 97 or $95 to buy crude oil again.

*Analiza tržišta koja se ovde nalazi namenjena je boljem razumevanju tržišta i ne pruža instrukcije za vršenje trgovanja.

Dimitrios Zappas,
Analytical expert of InstaSpot
© 2007-2026
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