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15.05.202617:08 Forex Analysis & Reviews: Trading Signals for CRUDE OIL on May 15-18, 2026: buy above $99.50 (21 SMA - 8/8 Murray)

Relevancia 11:00 2026-05-29 UTC--4

Exchange Rates 15.05.2026 analysis

Crude oil is trading around $99.57, undergoing a technical correction after reaching a high of $100.69. If the price consolidates below the 8/8 Murray line and below the psychological level of $100, this could signal a technical correction toward the lower band of the uptrend channel.

If crude oil breaks above the psychological level of $100 and consolidates above this zone in the coming hours, we can expect the uptrend to continue, potentially reaching $101.76, the level of the daily resistance. The instrument could even reach the upper band of the trend channel around $103.81.

If the price consolidates below $100 in the coming hours, this could be seen as a signal to sell, with targets at the 21 SMA around $97.50. We could even expect it to reach the area of the uptrend channel around $96.30.

A decisive break of the uptrend channel could lead to a strong technical correction, and we could expect crude oil to retest the level it left around $91.60. Ultimately, we could see a sharp drop toward the 7/8 Murray level around $87.50.

Our trading plan for the coming hours is to sell below the psychological level of $100 or buy above $100 if the price consolidates above the 8/8 Murray line, with targets at about $101.76.

The Eagle indicator is showing a positive signal, so we believe that any pullback in crude oil prices will be seen as a signal to continue buying.

*El análisis de mercado publicado aquí tiene la finalidad de incrementar su conocimiento, más no darle instrucciones para realizar una operación.

Dimitrios Zappas,
Analytical expert of InstaSpot
© 2007-2026
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