NEWS: Crude oil price is increasing 1.4% amid worries of oil supply disruptions in the U.S. and Russia, and as markets await clarity on the Ukraine peace talks.
Possible Scenarios:
If Crude oil fails to breach through R1 of 72.829, our Research Department expects the Crude oil to undergo a short- term downward correction.
If Crude oil manages to break above its R1 of 72.829, our Research Department expects the Crude oil to extend its gains to its R2 of 73.255.
Support and Resistance Levels:
Crude oil |
S3 |
S2 |
S1 |
Reference Price |
R1 |
R2 |
R3 |
70.838 |
71.265 |
71.691 |
72.260 |
72.829 |
73.255 |
73.682 |
Potential Profit or Potential Loss Calculations:
10 cents per 1 trading lot* |
USD |
EUR** |
GBP*** |
(+/-) $100 |
(+/-) €95.84 |
(+/-) £79.41 |
*1 trading lot is equivalent of 1000 units
**EUR/USD= 1.04337
***GBP/USD= 1.25925
Calculations for exchange rate used as of Wednesday, February 19, 2025, 14:05 GMT