NEWS: Crude oil price is falling by 2.7% following U.S. President Trump's decision to raise tariffs on Chinese imports to 125%. Separately, reports showed that inflation in China fell by 0.1% in March.
Possible Scenarios:
If Crude oil fails to breach through S1 of 59.464, our Research Department expects the Crude oil to undergo a short- term upward correction.
If Crude oil manages to break below its S1 of 59.464, our Research Department expects the Crude oil to extend its losses to its S2 of 57.772.
Support and Resistance Levels:
Crude oil |
S3 |
S2 |
S1 |
Reference Price |
R1 |
R2 |
R3 |
56.080 |
57.772 |
59.464 |
61.720 |
63.976 |
65.668 |
67.360 |
Potential Profit or Potential Loss Calculations:
10 cents per 1 trading lot* |
USD |
EUR** |
GBP*** |
||
(+/-) $100 |
(+/-) €90.83 |
(+/-) £77.73 |
*1 trading lot is equivalent of 1000 units
**EUR/USD = 1.10093
***GBP/USD = 1.28652
Calculations for exchange rate used as of Thursday, April 10, 2025, 8:45 GMT+1