Crude Oil Futures Trading Map: Key Levels for January 2025 Contract
Analysis of current prices:
Today’s Crude Oil Futures (CL January 2025) are trading near critical levels, with a clear division between bearish and bullish scenarios based on key technical zones.
Bearish scenario: Crude oil futures under today’s control point
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Key level for bears:
- $74.13: Today’s Point of Control (POC) serves as a key level. Movement below this price signals bearish momentum and selling pressure.
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Targets for bears:
- $73.69: The first target for a partial profit, a key support level that some buyers can jump into.
- $73.47: A stronger support zone that could attract significant buying interest.
- $73.05: A major support level, representing a potential full profit target for bearish trades.
Downstairs there was a break $74.13 could set the stage for a decline in crude oil prices, with these levels acting as potential backstops.
Bullish scenario: Crude oil futures above Friday’s highs
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A key level for the bulls:
- $74.33: Friday High Area Value (VAH) is the critical level that bulls need to regain and hold above to confirm strength.
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Targets for Taurus:
- Immediate upside down targets will depend on momentum, with a focus on retrieving further resistance levels when this key zone is broken.
If crude oil futures hold above $74.33this could signal renewed buying interest and the potential for continued growth.
Crude Oil Futures Trading Key Terms
- Bearish Outlook: Below $74.13bears gain control with goals on $73.69, $73.47and $73.05.
- Bullish Outlook: Above $74.33bulls can regain strength and seek higher levels.
Disclaimer: Crude Oil Futures Analysis
This Crude oil futures trading map highlights potential key levels that traders can watch at CL contract from January 2025. Use these levels as part of your trading analysis and risk management. Always trade responsibly and consider your strategy and market conditions before making decisions. Visit ForexLive.com for additional reviews.