18.06.202608:25 Forex Analysis & Reviews: Trading Signals for CRUDE OIL (CL) on June 18-20, 2026: buy above $74.00 (21 SMA - 6/8 Murray)

Relevance up to 02:00 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 $74.38 under downward pressure following a strong upward move that caused it to fall from its high of $80 to the $74 level.

Given that crude oil is below the 6/8 Murray level, it could get stuck under downward pressure, and we should remain cautious, as it could fall toward the lower band of the downtrend channel around $73.04.

A strong rebound above $73 could support a bullish outlook for crude oil, and we could expect it to reach $77 to $80 in the coming days; it could also fill the gap left last week when Friday's closing price was around $84.

Conversely, if crude oil rebounds and consolidates above the key $75 level, this could be seen as a buy signal, with targets at $77, $80, and finally $84.

We must keep an eye on both support levels—$73 and $75—as we believe crude oil could rebound from both zones and begin a new uptrend.

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.