Oil Attempts to Shed Negativity 31/10/2025

Price action remains in a corrective uptrend, with buyers attempting to extend gains.

Technical outlook:

• Simple moving averages sit beneath price and continue to offer support.
• RSI is constructive, helping sustain upside momentum.

Base case (bullish bias while above 60.80):

• Holding 60.80 keeps the path higher toward 61.75, then 61.90 and 62.70.
• A 4H close above 61.75 would strengthen the bullish scenario and favor continuation.

Pullback levels / alternative path:

• If price slips, first supports sit at 60.60 and 59.60.
• Reclaiming 59.60 from below would refocus 60.60 → 61.10.
• A 4H close below 59.60 would negate the bullish setup and expose 59.10.

Risk note:
Volatility remains elevated amid trade and geopolitical tensions; reassess quickly if key levels break. Manage size and stops accordingly.

Trading in CFDs involves high risk, and therefore all scenarios are subject to potential outcomes. The analysis provided above is not a recommendation to buy or sell but rather an illustrative reading of price action on the chart.

S1: 59.55	R1: 60.65
S2: 59.05	R2: 61.20
S3: 58.50	R3: 61.70