NEWS: Crude oil price increased 2.1.Crude Oil prices are rising ahead of today’s EIA Weekly Inventory Report scheduled for 15:30 UK time.
Possible Scenarios:
If Crude oil fails to breach through R2 of 72.365, our Research Department expects the Crude oil to undergo a short-term downward correction.
If Crude oil manages to break above its R2 of 72.365, our Research Department expects the Crude oil to extend its gains to its R3 of 72.864.
Support and Resistance Levels:
Crude oil |
S3 |
S2 |
S1 |
Reference Price |
R1 |
R2 |
R3 |
69.536 |
70.035 |
70.534 |
71.200 |
71.866 |
72.365 |
72.864 |
Potential Profit or Potential Loss Calculations:
10 cents per 1 trading lot* |
USD |
EUR** |
GBP*** |
||
(+/-) $100 |
(+/-) €84.6 |
(+/-) £72.31 |
*1 trading lot is equivalent of 1000 units
**EUR/USD = 1.18210
***GBP/USD = 1.38300
Calculations for exchange rate used as of 12:20 (GMT+1) 15/09/2021