NEWS: Crude oil price increased 1.1%. Crude oil prices moved sharply higher as supply concerns continue to remain.
Possible Scenarios:
If CRUDE OIL fails to breach through R2 of 81.991, our Research Department expects the CRUDE OIL to undergo a short- term downward correction.
If CRUDE OIL manages to break above its R2 of 81.991, our Research Department expects the CRUDE OIL to extend its gains to its R3 of 82.454.
Support and Resistance Levels:
CRUDE OIL |
S3 |
S2 |
S1 |
Reference Price |
R1 |
R2 |
R3 |
79.366 |
79.829 |
80.292 |
80.910 |
81.528 |
81.991 |
82.454 |
Potential Profit or Potential Loss Calculations:
10 cents per 1 trading lot* |
USD |
EUR** |
GBP*** |
||
(+/-) $100 |
(+/-) €92.28 |
(+/-) £79.07 |
*1 trading lot is equivalent of 1000 units
**EUR/USD = 1.08370
***GBP/USD = 1.26473
Calculations for exchange rate used as of Monday, March 25, 2024, GMT 13:45h