Oil (F) 2018-06-05

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Crude Oil continue retreated as US asked SaudiArabia and another OPECNations to boost Oil output by 1 million barrels aday to control price rising

Crude Oill managed to fell below 65.00 yesterday which may push for farther drop over Short-Run 

As long as market holding below 65.90 resistance more drop toward 60.00 zone is expected

Above 65.90 market may head for farther rebound correction toward 68.00 zone

  Support Resistance
Level 1 64.00 65.90
Level 2 63.20 67.30
Level 3 62.00 68.50
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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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