NEWS: Crude oil price is falling 1.8% on fears of a recession, which could lead to a cooling of investor demand for the commodity.
Possible Scenarios:
If Crude oil fails to breach through S1 of 106.111, our Research Department expects the Crude oil to undergo a short- term upward correction.
If Crude oil manages to break below its S1 of 106.111, our Research Department expects the Crude oil to extend its losses to its S2 of 104.791
Support and Resistance Levels:
Crude oil |
S3 |
S2 |
S1 |
Reference Price |
R1 |
R2 |
R3 |
103.472 |
104.791 |
106.111 |
107.870 |
109.629 |
110.949 |
112.268 |
Potential Profit or Potential Loss Calculations:
10 cents per 1 trading lot* |
USD |
EUR** |
GBP*** |
||
(+/-) $100 |
(+/-) €94.65 |
(+/-) £81.33 |
*1 trading lot is equivalent of 1000 units
**EUR/USD = 1.05655
***GBP/USD = 1.22951
Calculations for exchange rate used as of 14:35 (GMT+1) 27/6/2022