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CRUDE OIL OUTLOOK 28.05.20

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Oil futures tumbled on Wednesday after US President Donald Trump said he was working on a strong response to China's proposed security law in Hong Kong and as some traders doubted Russia's commitment to deep production cuts.

Many worried that Russia may not agree to extend production cuts ahead of the meeting in less than two weeks between the Organization of the Petroleum Exporting Countries and its allies.

IMPORTANT LEVELS FOR 28/05/2020

RESISTANCE 1 – 2529
RESISTANCE 2 – 2554
RESISTANCE 3 – 2578

SUPPORT 1 – 2472
SUPPORT 2 – 2451
SUPPORT 3 – 2425

Thanks!

ProCapitas Market-Pro Team

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