Oil (F) 2018-03-21

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As we advised early this week and as we seeover our previous chart

Crude Oil managed to hold support zone after testing 61.15-40 where managed to head from there to break above resistance 62.70 as we advised

Market now showing chance for farther advance toward 63.90 and 65.00 zone while support at 62.60 and 61.40….. Market managed today to hit first target 63.90

From resistance zone 65.00-20 will expect another drop correction which may head toward 62.60-63.20 zone

Above 65.20 more advance to test 66.20-60 zone may hit the market

Below 61.40 market may head for farther drop correction toward 59.00-50 zone

 

Support Resistance
Level 1 62.60 65.00-20
Level 2 61.40 66.20-60
Level 3 59.00-50 68.00
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Rami Abu-Dra`a is a Chief Technical Analyst at Orbex and a holder of B.S Degree in Banking & Financial Science / Subsidiary Economic. Rami ‘s strategic vision of forex markets, enhanced by more than a decade of trading experience, allows him to efficiently mix fundamental and technical analyses, and find the best investment ideas for Orbex traders.

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Rami Abu-Dra`a is a Chief Technical Analyst at Orbex and a holder of B.S Degree in Banking & Financial Science / Subsidiary Economic. Rami ‘s strategic vision of forex markets, enhanced by more than a decade of trading experience, allows him to efficiently mix fundamental and technical analyses, and find the best investment ideas for Orbex traders.

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