NEWS: CRUDE OIL price is falling -1.2% . Crude oil prices are falling sharply as the US dollar index spikes, putting negative pressure on commodities.
Possible Scenarios:
If CRUDE OIL fails to breach through S1 of 81.934, our Research Department expects the CRUDE OIL to undergo a short- term upward correction.
If CRUDE OIL manages to break below its S1 of 81.934, our Research Department expects the CRUDE OIL to extend its losses to its S2 of 81.232.
Support and Resistance Levels:
CRUDE OIL |
S3 |
S2 |
S1 |
Reference Price |
R1 |
R2 |
R3 |
80.530 |
81.232 |
81.934 |
82.870 |
83.806 |
84.508 |
85.210 |
Potential Profit or Potential Loss Calculations:
10 cents per 1 trading lot* |
USD |
EUR** |
GBP*** |
||
(+/-) $100 |
(+/-) €93.49 |
(+/-) £80.22 |
*1 trading lot is equivalent of 1000 units
**EUR/USD = 1.06960
***GBP/USD = 1.24663
Calculations for exchange rate used as of Thursday, April 25, 2024, GMT +1 15:00h