NEWS: Crude oil price is increasing 8.2% following a recovery from a drop to its more than a four-year low.
Possible Scenarios:
If Crude oil fails to breach through Reference Price of 63.775, 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 63.775, our Research Department expects the Crude oil to extend its gains to its R1 of 65.185.
Support and Resistance Levels:
Crude oil |
S3 |
S2 |
S1 |
Reference Price |
R1 |
R2 |
R3 |
60.250 |
61.308 |
62.365 |
63.775 |
65.185 |
66.243 |
67.300 |
Potential Profit or Potential Loss Calculations:
10 cents per 1 trading lot* |
USD |
EUR** |
GBP*** |
(+/-) $100 |
(+/-) €91.27 |
(+/-) £77.97 |
*1 trading lot is equivalent of 1000 units
**EUR/USD = 1.09563
***GBP/USD = 1.28253
Calculations for exchange rate used as of Monday, April 7, 2025, 15:20 GMT+1