empty
 
 
10.02.2025 07:40 AM
Oil Forecast for February 10, 2025

Crude Oil (CL)

On the weekly chart, the price only briefly declined below the MACD indicator line before rebounding. The new trading week opened above this line, and the price is now testing resistance at 71.44. The Marlin oscillator's signal line is turning upward from the zero level, indicating potential upside momentum.

This image is no longer relevant

Given this technical setup, further declines toward 69.74 and 68.45 may not materialize. Instead, there is a higher probability of a rally toward 75.16.A break and consolidation above 71.44 will open the way toward the MACD line resistance at 73.44. If the price holds above 73.44, the next upward target will be 75.16.

This image is no longer relevant

On the H4 timeframe, the MACD line is pressing against the 71.44 level from above, making it a key resistance zone. A confirmed breakout above this level would reinforce the bullish outlook, significantly strengthening buyers' positions. By the time this occurs, the Marlin oscillator is expected to enter positive territory, further supporting upward momentum.

This image is no longer relevant

Overall, the technical structure suggests a bullish shift, with key resistance levels 73.44 and 75.16 as potential targets.

Laurie Bailey,
Analytical expert of InstaForex
© 2007-2025
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $1000 more!
    In February we raffle $1000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback