Oil (F) 2018-08-06

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We still holding our short Run prospective that as long as market holding below 72.20 a drop wave may target 64.00-50 zone

However the iNtraday levels showing potential movement as we see over the chart

as long as market holding below intraday resistance 69.90 another drop pressure may hit market where support at 67.80 and 66.30

Above 69.90 more advance may have the chance where the main resistance laying at 71.65-72.20 zone

  Support Resistance
Level 1 67.80 69.90
Level 2 66.90 71.65
Level 3 66.30 72.20
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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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