Forex Trading Library

Crude Oil –21.02.2025

Technical Analysis
By Rami Abu-Draa
Crude Oil –21.02.2025
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Crude Oil remains under pressure towards 68.35.
The market managed yesterday to re-test the resistance zone of 73.25-50 which is still intact on the chart.
As long as the market holds below 74.60, the downtrend pressure could continue toward 68.35.
Above 74.60 more advance will be expected.

SUPPORT RESISTANCE
LEVEL1 71.70 73.25-50
LEVEL2 70.10 74.60
LEVEL3 68.35 76.40

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Rami Abu-Draa

Head of Technical Analysis at Orbex, Rami Abu Draa
holds a bachelor's degree in Banking, Finance and Economics. A professional trader and mentor with over 10 years of industry experience, Rami is passionate about sharing his knowledge with Orbex clients from basic to advanced concepts of Technical Analysis, Investment psychology and Investment/Trading methodologies. He is able to combine fundamental and technical principles to deliver a unique perspective on the markets that enables Orbex traders to identify high-probability trading opportunities.

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