Forex Trading Library

Crude Oil – 05.06.2024

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Crude Oil dropped to the target of 75.50 and managed to break further downwards and meet the second level of 73.50.

As we can see from the chart, prices face an uptrend around the 70.00-50 zone, which, if the market manages to test, could provide a chance for a rebound toward the 76.00-50 area.

Below 70.00, more of a drop could hit the market with support at 67.70.

Intraday levels show support starting from 72.50 and 71.50.

SUPPORT RESISTANCE
LEVEL1 72.50 73.50
LEVEL2 71.50 74.50
LEVEL3 70.00 76.50

 

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