Meanwhile, according to industry sources, the discount on Russia’s Urals crude widened sharply after the U.S. imposed secondary sanctions on Rosneft and Lukoil. As of November 10, the discount in the ports of Primorsk and Novorossiysk reached $19.4 per barrel, compared with $13–14 earlier and $11–12 before the new measures. Historically, discounts narrowed over time as logistics adapted and supply routes were restructured. Currently, however, five major Indian refineries have already declined to place orders for December Russian crude, while China’s state-owned Sinopec Group and PetroChina Co. Ltd. have refrained from spot purchases — a development that could limit export flows in the short term and increase pressure on Urals prices.
Support and Resistance Levels
On the daily chart, Bollinger Bands are shifting into a downward configuration: the price range is narrowing, signaling a change in trend direction in the very short term. MACD is declining, maintaining a sell signal (the histogram remains below the signal line), while the Stochastic oscillator has turned lower in the middle of its range, indicating sufficient potential for further bearish movement in the coming sessions.
Resistance levels: 59.00, 60.05, 61.00, 62.00.
Support levels: 58.00, 57.25, 56.34, 55.00.
Trading Scenarios and WTI Crude Oil Forecast
Short positions may be considered after a confident breakdown below 58.00, targeting 56.34. Stop-loss: 59.00. Estimated time horizon: 1–2 days.
Long positions may be opened after a rebound from 58.00 and a breakout above 59.00, with a target at 61.00. Stop-loss: 58.00.
Scenario
| Timeframe | Intraday |
| Recommendation | SELL STOP |
| Entry Point | 58.00 |
| Take Profit | 56.34 |
| Stop Loss | 59.00 |
| Key Levels | 55.00, 56.34, 57.25, 58.00, 59.00, 60.05, 61.00, 62.00 |
Alternative Scenario
| Recommendation | BUY STOP |
| Entry Point | 59.00 |
| Take Profit | 61.00 |
| Stop Loss | 58.00 |
| Key Levels | 55.00, 56.34, 57.25, 58.00, 59.00, 60.05, 61.00, 62.00 |