NEWS: Crude oil price is falling -3.6% as the trade war intensifies raising fears over demand for crude oil
Possible Scenarios:
If Crude oil fails to breach through S1 of 55.058, our Research Department expects the Crude oil to undergo a short- term upward correction.
If Crude oil manages to break below its S1 of 55.058, our Research Department expects the Crude oil to extend its losses to its S2 of 53.677.
Support and Resistance Levels:
Crude oil |
S3 |
S2 |
S1 |
Reference Price |
R1 |
R2 |
R3 |
52.296 |
53.677 |
55.058 |
56.900 |
58.742 |
60.123 |
61.504 |
Potential Profit or Potential Loss Calculations:
10 cents per 1 trading lot* |
USD |
EUR** |
GBP*** |
(+/-) $100 |
(+/-) €90.55 |
(+/-) £78.03 |
*1 trading lot is equivalent of 1000 units
**EUR/USD = 1.10431
***GBP/USD = 1.28158
Calculations for exchange rate used as of Wednesday, April 9, 2025, 12:10 GMT+1