Oil (F) 2018-04-04

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As we advised yesterday and as we see over our previous chart

Crude Oil managed to sustain drop after broke 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 , first target done

From that zone 61.80-62.00 a rebound correction may hit the market toward 64.00

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

below 61.80 market may show risk for farther drop toward 60.00 zone

  Support Resistance
Level 1 61.80-62.00 64.00
Level 2 59.90 64.70
Level 3 58.00-50 65.80-90
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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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