Oil (F) 2018-07-26

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As we advised in the last 2 weeks and after Crude Oil broke below support 72.00-20

We still holding same view for the Oil that as long as market holding trades below 72.00-20 a bigger drop wave will be expected toward 64.00-50 zone

Intraday Levels managed to jump above resistance at 69.25 which may drive more rebound as market now facing resistance at 71.65 and 72.20

 

  Support Resistance
Level 1 68.20 70.00
Level 2 67.50 70.80
Level 3 66.30 71.65
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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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