Oil (F) 2018-07-02

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Crude oil managed to hold trades above 72.00-20 support zone where managed last week to head for farther advance toward 74.45 

Market managed to head for drop gap price today on market open as US called for Saudi Oil production increase to hold price rising 

Market managed to rebound to cover this gap while Intraday still facing 74.50 resistance

will keep our outlook that as long as market holding above 72.00-20 more advance toward 76.80-77.80 zone is expected

below 72.00 more drop may hit market with another support at 70.00 zone

  Support Resistance
Level 1 72.00-20 74.50
Level 2 70.00 76.00
Level 3 68.50 76.80
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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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