Oil (F) 2018-04-03

Posted on

Crude Oil managed to sustain drop afterbroke below 63.60 while market still looking for farther retreate

As long as market holding trades below resistance zone 64.00-70 more drop toward target 62.50-60 and 62.00 zone is expected

From that zone 62.00 a rebound correction may hit the market toward 64.00

Above 64.70 market may have room for farther advance toward 65.80-90

  Support Resistance
Level 1 62.50 64.00
Level 2 61.90 64.70
Level 3 59.90 65.90
(Visited 1 times, 1 visits today)

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.

- Website

START TRADING

or practice on DEMO ACCOUNT

Trading CFDs Involves high risk of loss

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.

© Orbex