Oil declines for the first time in three weeks

By Ahmed Ashraf On Apr 29, 2026

USOIL

Oil is trading around $98 resistance zone, a breakout above may target $108 area, but resistance mentioned is likely to limit upside momentum in today’s trading.

Support	88	78
Resistance	98	108

Crude oil prices edged slightly lower after reaching their highest levels in recent weeks, as markets entered a phase of anticipation and profit taking following a strong upward rally. Despite this limited pullback, prices remain supported by fundamental factors such as geopolitical tensions and concerns over supply shortages, helping to maintain the overall positive trend in the financial markets.

You can now benefit from LDN company’s services through the LDN Global Markets trading platform.

Ahmed Ashraf

Technical Analyst & Economic Researcher at LDN Global Markets

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