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April 2, 2026
NEWS: Crude oil price is increasing 7.0% after President Trump stated the US will hit Iran hard in the coming weeks as the Middle East conflict and closure of the Strait of Hormuz show no signs of ending
Possible Scenarios:
If Crude oil fails to breach through R1 of 107.835, our Analysis Department expects Crude oil to undergo a short- term downward correction.
If Crude oil manages to break above its R1 of 107.835, our Analysis Department expects Crude oil to extend its gains to its R2 of 110.003.
Support and Resistance Levels:
|
Crude oil |
S3 |
S2 |
S1 |
Reference Price |
R1 |
R2 |
R3 |
|
97.719 |
99.887 |
102.055 |
104.945 |
107.835 |
110.003 |
112.171 |
Potential Profit or Potential Loss Calculations:
|
10 cents per 1 trading lot* |
USD |
EUR** |
GBP*** |
||
|
(+/-) $100 |
(+/-) €86.75 |
(+/-) £75.68 |
|||
*1 trading lot is equivalent of 1000 units
**EUR/USD = 1.15274
***GBP/USD = 1.32131
Calculations for exchange rate used as of Thursday, April 2, 2026, 8:17: AM