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Crude Oil Price Outlook – Crude Oil Continues to Slump
Published: Nov 4, 2025, 14:43 GMT+00:00
Oil prices fell sharply on Tuesday, with both WTI and Brent facing renewed selling near key technical barriers. I expect further downside pressure driven by oversupply and global demand concerns, making rallies potential shorting opportunities.
WTI/CL Technical Analysis
The light sweet crude oil market has fallen pretty significantly during the trading session on Tuesday, as the market continues to see the $62 level as a major barrier. Furthermore, we also have the 50-day EMA sitting right around there as well. With that being the case, I think you have a situation where short-term rallies will end up facing the significant selling pressure of the market.
That being said, you should also keep in mind that the oil situation is a little bit messy at the moment, as the recent gap higher and the shot higher were due to the fact that the United States placed more sanctions on Russia. But we’ve seen this game before, and quite frankly, it doesn’t tend to work out. So I think you’ve got a situation where you continue to fade rallies, and eventually we find our way back towards the $56 level.
Brent Technical Analysis
Brent markets, of course, look the same as the $65 level looks to be a bit of a barrier, right along with the 50-day EMA. If the market were to fall from here, $62 would be targeted, followed by $60. I don’t have any interest in buying this market, at least not at the moment, and I do think that the oversupply coming out of Russia, OPEC, and the United States will continue to suppress pricing. Furthermore, you have to worry about the idea that the global economy could be slowing down, and if that’s the case, demand for crude will obviously drop with that.
For a look at all of today’s economic events, check out our economic calendar.
About the Author
Christopher Lewisauthor
Chris is a proprietary trader with more than 20 years of experience across various markets, including currencies, indices and commodities. As a senior analyst at FXEmpire since the website’s early days, he offers readers advanced market perspectives to navigate today’s financial landscape with confidence.
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