FX.co ★ Technical Analysis of Crude Oil Intraday Price Movement. Tuesday, May 12, 2026

CRUDE OIL

With all technical conditions showing strength in #CL, then in the near term #CL has the potential to test its nearest resistance level.

Key Levels

1. Resistance. 2 : 102.47

2. Resistance. 1 : 100.36

3. Pivot : 98.25

4. Support. 1 : 96.14

5. Support. 2 : 94.03

Tactical Scenario

Pressure Zone: If the price holds and does not break below 98.25, there is potential to move up toward 100.36.

Momentum Extension Bias: If 100.36 is also broken out to the upside, #CL could advance to 102.47.

Invalidation Level / Bias Revision

The upside bias weakens if the price breaks below 94.03.

EMA(50) : 98.03

EMA(200): 97.79

RSI(14) : 61.95

Economic News Release Agenda:

Today the United States will release the following economic data:

US - NFIB Small Business Index - 17:00 WIB

US - ADP Weekly Employment Change - 19:15 WIB

US - Core CPI m/m - 19:30 WIB

US - CPI m/m - 19:30 WIB

US - CPI y/y - 19:30 WIB

US - 10-y Bond Auction - 00:01 WIB

US - Federal Budget Balance - 01:00 WIB

US - API Weekly Statistical Bulletin - 03:30 WIB