The Future of Oil is currently trading at 80.54.
If the price started a upward movement we must wait to overcome R2 at 82.72, to value longs having to consider R3 as resistance at 83.33.
If the price started a bearish movement and S2 lost at 78.72, we could value shorts considering a target of the order of 25 points before approaching S3 at 77.38 which could function as support. We must bear in mind that the area is complicated and that we must protect positions as soon as possible.
If it continues to decline, if S2 were also lost, we could value shorts again, considering a target of the order of 25 points before approaching S3 at 77.83 that could act as support.
G5m Oil Future Chart
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The Future of Gold is currently trading at 1,762.5.
If the price started a upward movement and exceeded 1,770.0, we could value longs taking into account R2 resistance at 1,779.4.
If it continues to rise, if 1,782.7 is also exceeded, we could value longs considering a 20 point target before approaching R3 at 1,788.9 which could act as resistance.
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