30.04.202606:37 Forex Analysis & Reviews: Trading Signals for CRUDE OIL on April 30, 2026: sell below $107.80 (R_1 - 8/8 Murray)

Relevance up to 00:00 UTC--4

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

Crude oil is trading around $104.79 with a strongly bullish bias on the daily chart. Yesterday, starting with the opening of the Asian session, crude oil managed to consolidate above $97, reaching $105 following a strong upward move that broke through the psychological barrier of $100, and it is likely to continue rising in the coming days.

If CL reaches the strong resistance at $106.79, we could expect it to face strong rejection at this level. However, if the upward momentum prevails, the instrument is expected to reach the daily R1 around $107.80.

On the H4 chart, crude oil has reached overbought levels, so a technical correction below $105.70 is expected in the coming hours. Alternatively, if a pullback occurs toward 106.79 or 107.80, it could be considered an opportunity to sell crude oil.

A drop below $105.70 could bring crude oil closer to the psychological level of $100, around the 4/8 Murray line. A technical rebound is expected in this zone, and we could view this level as an opportunity to buy, with a target at $106.

We could exercise some caution and take low-risk short positions provided the price consolidates below $105.70, with a target at $100. If the downward pressure continues, WTI oil could reach the 21-day SMA around $92.52.

Our strategy for the coming hours will be to sell around $105.80. If the price breaks above this zone, we could wait for $106.79 to sell, and if the downward momentum continues, we could target $107.80, as this level represents daily resistance and also coincides with weekly resistance.

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.