Crude Oil managed to maintain a daily close above the support of 72.45 and managed to meet the target 74.25.
As we see over the Intraday chart, prices face the first support around 73.30. if prices remain above this support, more advance toward the second target of 78.00-25 will be expected.
Below 73.30, the market could head for a further drop to re-test the 71.20-40 support zone which in turn could activate another rebound.
Below 71.20 more of a drop will be expected with support around 68.20.
| SUPPORT | RESISTANCE | |
| LEVEL1 | 73.30 | 75.00 |
| LEVEL2 | 71.20-40 | 78.00-25 |
| LEVEL3 | 68.20 | 80.00-20 |
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The post Crude Oil – 08.08.2024 appeared first on Orbex Forex Trading Blog.
