Oil (F) 2018-08-01

Posted on

We still holding the Short-run bearish outlook as we advised 2 weeks ago

Market now facing resistance 71.65 and 72.20 where as long as market holding below one of those resistances another drop wave may hit the market toward 64.00-50 zone

Above 72.20 will expect market to gain more strength to test 74.00 and above

  Support Resistance
Level 1 67.55 68.50
Level 2 66.30 69.25
Level 3 64.50 70.80
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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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