Possible Scenarios:
if Crude oil fails to breach through R1 of 68.96, our Research Department expects the Crude oil to undergo a short- term downward correction.
If Crude oil manages to break above its R1 of 68.96, our Research Department expects the Crude oil to extend its gains to its R2 of 70.31.
Support and Resistance Levels:
Crude oil |
S3 |
S2 |
S1 |
Reference Price |
R1 |
R2 |
R3 |
62.660 |
64.010 |
65.360 |
67.160 |
68.960 |
70.310 |
71.660 |
Potential Profit or Potential Loss Calculations:
10 cents per 1 trading lot* |
USD |
EUR** |
GBP*** |
||
(+/-) $100 |
(+/-) €93.23 |
(+/-) £81.72 |
*1 trading lot is equivalent of 1000 units
**EUR/USD = 1.07257
***GBP/USD = 1.22369
Calculations for exchange rate used as of Tuesday, March 21, 2023, 08:56: AM