NEWS: Crude oil price is falling 1.2% as investors take profits from recent highs of $87.
Possible Scenarios:
If CRUDE OIL fails to breach through S2 of 83.322, our Research Department expects the CRUDE OIL to undergo a short- term upward correction.
If CRUDE OIL manages to break below its S2 of 83.322, our Research Department expects the CRUDE OIL to extend its losses to its S3 of 82.706
Support and Resistance Levels:
CRUDE OIL |
S3 |
S2 |
S1 |
Reference Price |
R1 |
R2 |
R3 |
82.706 |
83.322 |
83.938 |
84.760 |
85.582 |
86.198 |
86.814 |
Potential Profit or Potential Loss Calculations:
10 cents per 1 trading lot* |
USD |
EUR** |
GBP*** |
||
(+/-) $100 |
(+/-) €93.81 |
(+/-) £80.13 |
*1 trading lot is equivalent of 1000 units
**EUR/USD= 1.06596
***GBP/USD= 1.24803
Calculations for exchange rate used as of Monday, April 15, 2024, 09:02 GMT+1