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June 1, 2026
NEWS: Crude oil price is rising 2.3% after Iran suspended talks with the U.S. over continued Israeli actions in Lebanon, raising concerns over the Strait of Hormuz and reducing hopes for a near-term peace deal.
Possible Scenarios:
If Crude oil fails to breach through R1 of 93.187, our Analysis Department expects Crude oil to undergo a short- term downward correction.
If Crude oil manages to break above its R1 of 93.187, our Analysis Department expects Crude oil to extend its gains to its R2 of 94.418.
Support and Resistance Levels:
|
Crude oil |
S3 |
S2 |
S1 |
Reference Price |
R1 |
R2 |
R3 |
|
87.441 |
88.672 |
89.903 |
91.545 |
93.187 |
94.418 |
95.649 |
Potential Profit or Potential Loss Calculations:
|
10 cents per 1 trading lot* |
USD |
EUR** |
GBP*** |
|
(+/-) $100 |
(+/-) €85.95 |
(+/-) £74.37 |
*1 trading lot is equivalent of 1000 units
**EUR/USD = 1.16350
***GBP/USD = 1.34459
Calculations for exchange rate used as of Monday, June 1, 2026, 14:20 GMT+1