FX.co ★ bradtke.owen | CL/Crude Oil

#CL, Sunday, April 26, 2026

The movement of crude oil prices with the code #CL at the beginning of this week's trading opened with quite an aggressive stance. Prices immediately experienced a significant upward gap when the market became active again, a phenomenon that often occurs when there are strong fundamental factors during market closure. In this case, the spike in oil prices was triggered by increasing geopolitical tensions in the Middle East region that are still ongoing. This situation has raised market concerns about the potential disruption of global energy supply, prompting market participants to increase demand for crude oil as a strategic commodity asset. After the opening with this gap, crude oil prices then continued to gradually rise throughout the trading week. This bullish momentum pushed prices to continue strengthening until they finally managed to form a new higher level around the price area of 98.31. Achieving this level indicates that buying pressure from market participants is still quite dominant in the last few trading sessions. This condition also indicates that market sentiment towards crude oil remains positive, as speculation increases that geopolitical tensions could tighten global energy supply. However, towards the end of the trading week, crude oil prices began to show signs of correction. On Friday, price movements appeared to gradually decline. This correction is basically a common condition in the financial markets, especially towards the end of the week when many market participants choose to secure profits from positions that have been profitable in the previous days. This profit-taking action then pushed prices down, leading to a short-term decline. Based on observations on the H4 timeframe, the movement of candles appears to be currently stalled around the price level of 94.84. This price position is quite interesting to watch because it is just above the convergence area of several dynamic support lines, namely EMA200, EMA50, and EMA21. The convergence of these three EMA lines often forms a strong technical zone, as it becomes an area of focus for technical traders. As long as the price can hold above this area, the opportunity to continue the upward movement remains quite open. From a momentum indicator perspective, the CCI14 is currently seen starting to move down sharply and has even crossed the neutral area around the zero line. This indicator movement indicates the emergence of short-term selling pressure after the previous uptrend rally. However, this condition does not always mean that the main trend will change to bearish. In many cases, a decline in the indicator after a rally often signals a temporary correction phase before the price resumes the larger main trend. Considering the current price structure, the price position still above the EMA convergence area, and the fundamental factors still supporting energy commodities, overall the opportunity for the continuation of the bullish trend in crude oil remains quite open for trading in the upcoming week. Therefore, a more rational trading strategy to consider on Monday is to look for buying opportunities. In this scenario, traders may consider placing a stop loss around the strong support area of 86.93, which is also the lower area of the previous week. Placing a stop loss below that level aims to anticipate the possibility of a trend change if selling pressure suddenly increases significantly. Meanwhile, the take profit target can be directed towards the resistance area around 105.93, which has the potential to be the next upward target if bullish momentum re-emerges. If this scenario materializes, the potential for an increase towards that target area not only provides significant profit opportunities for buyers but can also be an interesting conclusion for the movement of crude oil prices towards the end of the formation of the April monthly candle. In other words, the success of prices breaking through and approaching that area can strengthen the upward trend structure in a larger time frame.