18.05.202607:24 Forex Analysis & Reviews: Technical Analysis of Crude Oil Intraday Price Movement. Monday, May 18, 2026

CRUDE OIL

Both EMAs which is forming a Golden Cross and RSI(14) in the Neutral-Bullish level indicate the strengthening condition in #CL, so in the near term there is potential to test the nearest resistance level.

Key Levels

1. Resistance. 2 : 108.87

2. Resistance. 1 : 107.24

3. Pivot : 104.36

4. Support. 1 : 102.73

5. Support. 2 : 99.85

Tactical Scenario

Positive Reaction Zone: If the price breaks out above 107.24, there is a likelihood of a move up toward 108.87.

Momentum Extension Bias: If 108.87 is breached to the upside, #CL may continue toward 111.75.

Invalidation Level / Bias Revision

The upside bias weakens if the price falls below 99.85.

Technical Summary

EMA(50) : 105.11

EMA(200): 102.25

RSI(14) : 67.71

Economic News Release Agenda:

In addition to the first day of the G7 meeting schedule, the United States will release the following economic data:

US - NAHB Housing Market Index - 21:00 WIB

US - TIC Long-Term Purchases - 03:00 WIB