Oil (F) 2018-07-09

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As we advised in the previous weeks and as we see over our old chart

Crude oil managed to test support zone 72.00-20 where market managed to rebound from it toward 74.22 last week

we still holding our previous outlook for the Short-Run over Crude Oil

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 73.50 75.25
Level 2 72.60 76.80
Level 3 72.00 77.70
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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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