Crude Oil managed to maintain a daily close above the support of 72.45 and met the target of 74.25.
As we see on the Intraday chart, prices face the first support around 73.30. If prices hold above this support, more advance toward the second target of 78.00-25 will be expected.
The market managed to advance towards 76.60 so far.
Intraday supports start from 75.40 and 74.25.
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.
| SUPPORT | RESISTANCE | |
| LEVEL1 | 75.40 | 76.70-99 |
| LEVEL2 | 74.25 | 78.00-50 |
| LEVEL3 | 73.60 | 79.25 |
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The post Crude Oil – 12.08.2024 appeared first on Orbex Forex Trading Blog.
