NEWS: Crude oil price is falling 2.5% as volatility rises on Friday with markets waiting for news from US President Trump on US sanctions against Russia as deadline expires today.
Possible Scenarios:
If Crude oil fails to breach through S2 of 62.741, our Research Department expects Crude oil to undergo a short- term upward correction.
If Crude oil manages to break below its S2 of 62.741, our Research Department expects Crude oil to extend its losses to its S3 of 62.103.
Support and Resistance Levels:
Crude oil |
S3 |
S2 |
S1 |
Reference Price |
R1 |
R2 |
R3 |
62.103 |
62.741 |
63.379 |
64.230 |
65.081 |
65.719 |
66.357 |
Potential Profit or Potential Loss Calculations:
10 cents per 1 trading lot* |
USD |
EUR** |
GBP*** |
(+/-) $100 |
(+/-) €85.8 |
(+/-) £74.4 |
*1 trading lot is equivalent of 1000 units
**EUR/USD = 1.16545
***GBP/USD = 1.34418
Calculations for exchange rate used as of Friday, August 8, 2025, 15:00 GMT+1