NEWS: Crude oil price is increasing 1.8% following US President Donald Trump’s announcements of possible tariffs on Russian Crude Oil exports
Possible Scenarios:
If Crude oil fails to breach through Reference Price of 70.055, our Research Department expects the Crude oil to undergo a short- term downward correction.
If Crude oil manages to break above its Reference Price of 70.055, our Research Department expects the Crude oil to extend its gains to its R1 of 70.513.
Support and Resistance Levels:
Crude oil |
S3 |
S2 |
S1 |
Reference Price |
R1 |
R2 |
R3 |
68.910 |
69.254 |
69.597 |
70.055 |
70.513 |
70.857 |
71.200 |
Potential Profit or Potential Loss Calculations:
10 cents per 1 trading lot* |
USD |
EUR** |
GBP*** |
(+/-) $100 |
(+/-) €92.43 |
(+/-) £77.29 |
*1 trading lot is equivalent of 1000 units
**EUR/USD= 1.08195
***GBP/USD= 1.29381
Calculations for exchange rate used as of Monday, March 31, 2025, 09:15 GMT