NEWS: Crude oil price decreased 2.3%. Oil prices are falling as investors engage in profit taking activity.
Possible Scenarios:
If Crude oil fails to breach through S2 of 105.424, our Research Department expects the Crude oil to undergo a short- term upward correction.
If Crude oil manages to break below its S2 of 105.424, our Research Department expects the Crude oil to extend its losses to its S3 of 104.106
Support and Resistance Levels:
Crude oil |
S3 |
S2 |
S1 |
Reference Price |
R1 |
R2 |
R3 |
104.106 |
105.424 |
106.742 |
108.500 |
110.258 |
111.576 |
112.894 |
Potential Profit or Potential Loss Calculations:
10 cents per 1 trading lot* |
USD |
EUR** |
GBP*** |
||
(+/-) $100 |
(+/-) €96.23 |
(+/-) £82.65 |
*1 trading lot is equivalent of 1000 units
**EUR/USD = 1.03916
***GBP/USD = 1.20999
Calculations for exchange rate used as of 15:30 (GMT+1) 30/6/2022