NEWS: Crude oil price is falling -1.9%. Crude oil prices are falling ahead of this evening’s American Petroleum Institute weekly inventory report.
Possible Scenarios:
If Crude oil fails to breach through S2 of 69.741, our Research Department expects the Crude oil to undergo a short-term upward correction.
If Crude oil manages to break below its S2 of 69.741, our Research Department expects the Crude oil to extend its losses to its S3 of 69.236.
Support and Resistance Levels:
Crude oil |
S3 |
S2 |
S1 |
Reference Price |
R1 |
R2 |
R3 |
69.236 |
69.741 |
70.246 |
70.920 |
71.594 |
72.099 |
72.604 |
Potential Profit or Potential Loss Calculations:
10 cents per 1 trading lot* |
USD |
EUR** |
GBP*** |
||
(+/-) $100 |
(+/-) €85.29 |
(+/-) £73.26 |
*1 trading lot is equivalent of 1000 units
**EUR/USD = 1.17248
***GBP/USD = 1.36506
Calculations for exchange rate used as of 15:20 (GMT+1) 21/09/2021