NEWS: Crude oil price is falling -1.9% as reports come out that OPEC+ will consider production hikes at their next meeting on Sunday, September 7th
Possible Scenarios:
If Crude oil fails to breach through S1 of 63.831, our Research Department expects the Crude oil to undergo a short- term upward correction.
If Crude oil manages to break below its S1 of 63.831, our Research Department expects the Crude oil to extend its losses to its S2 of 63.471
Support and Resistance Levels:
Crude oil |
S3 |
S2 |
S1 |
Reference Price |
R1 |
R2 |
R3 |
63.112 |
63.471 |
63.831 |
64.310 |
64.789 |
65.149 |
65.508 |
Potential Profit or Potential Loss Calculations:
10 cents per 1 trading lot* |
USD |
EUR** |
GBP*** |
(+/-) $100 |
(+/-) €85.74 |
(+/-) £74.55 |
*1 trading lot is equivalent of 1000 units
**EUR/USD = 1.16636
***GBP/USD = 1.34140
Calculations for exchange rate used as of Wednesday, September 3, 2025, 10:50 GMT+1