NEWS: Crude oil price increased 1.2%. Crude oil prices continue to rise as tension in the Middle East remains high, with the possibility of escalation rising.
Possible Scenarios:
If CRUDE OIL fails to breach through R2 of 87.351, our Research Department expects the CRUDE OIL to undergo a short- term downward correction.
If CRUDE OIL manages to break above its R2 of 87.351, our Research Department expects the CRUDE OIL to extend its gains to its R3 of 87.904.
Support and Resistance Levels:
CRUDE OIL |
S3 |
S2 |
S1 |
Reference Price |
R1 |
R2 |
R3 |
84.216 |
84.769 |
85.322 |
86.060 |
86.798 |
87.351 |
87.904 |
Potential Profit or Potential Loss Calculations:
10 cents per 1 trading lot* |
USD |
EUR** |
GBP*** |
||
(+/-) $100 |
(+/-) €93.99 |
(+/-) £80.27 |
*1 trading lot is equivalent of 1000 units
**EUR/USD= 1.06394
***GBP/USD= 1.24573
Calculations for exchange rate used as of Friday, April 12, 2024, GMT+1 14:00h