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June 4, 2026
NEWS: Crude oil price is falling -2.2% as optimism grows over a potential US-Iran deal after Israel and Lebanon agreed to a ceasefire, with President Trump stating that negotiations are going very well and could be reached over the weekend.
Possible Scenarios:
If Crude oil fails to breach through S1 of 91.540, our Analysis Department expects Crude oil to undergo a short- term upward correction.
If Crude oil manages to break below its S1 of 91.540, our Analysis Department expects Crude oil to extend its losses to its S2 of 90.205
Support and Resistance Levels:
|
Crude oil |
S3 |
S2 |
S1 |
Reference Price |
R1 |
R2 |
R3 |
|
88.870 |
90.205 |
91.540 |
93.320 |
95.100 |
96.435 |
97.770 |
Potential Profit or Potential Loss Calculations:
|
10 cents per 1 trading lot* |
USD |
EUR** |
GBP*** |
|
(+/-) $100 |
(+/-) €85.92 |
(+/-) £74.32 |
*1 trading lot is equivalent of 1000 units
**EUR/USD = 1.16389
***GBP/USD = 1.34557
Calculations for exchange rate used as of Thursday, June 4, 2026, 12:42 GMT+1