Oil (F) 2018-06-28

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Oil still holding strong uptrend rally while market start today to trade inside the overbought zone

As long as market holding above first support 72.00 the uptrend rally may sustain toward 75.00 zone while Short-Run see chance for 76.00-77.00 zone

Below 72.00 market may push for retreat toward 70.00 zone which in turn may restore the uptrend path toward 75.00

Below 70.00 a big drop may hit the market

  Support Resistance
Level 1 72.00 72.90
Level 2 71.00 73.80
Level 3 70.00 75.00
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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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