Forex Trading Library

Crude Oil – 06.06.2024

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As previously predicted, Crude Oil dropped below 75.50 and fell further to meet the second target of 73.50.

On the chart, the market faces hitting the uptrend line around the 70.00-50 zone, which could provide a chance for a rebound toward the 76.00-50 zone.

Below 70.00, more of a drop could hit the market with support at 67.70, as intraday levels show support starting from 72.50 and 71.50.

 

SUPPORT RESISTANCE
LEVEL1 72.50 76.00-50
LEVEL2 71.50 78.50
LEVEL3 70.00 80.40

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