Oil (F) 2018-04-02

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As we advised last week and as we see over our previous chart

Crude Oil managed to hold support zone 63.60-64.00 intact as market managed to rebound from low 63.70 last week

Intraday levels showing first resistance at 65.60 while we expect market to hold this trading zone as we advised early last week toward 66.20-60 resistance

Below 63.60 more drop to test 62.50-60 is expected which in turn may activate another rebound correction at market

Above 66.60 more advance toward 68.00 is expected

  Support Resistance
Level 1 63.60-64.00 65.60
Level 2 62.50-60 66.60
Level 3 61.40 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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