As we can see, today all our support levels of Crude oil reached successfully as posted yesterday.
Crude Oil prices plunge to a 17 Years low as demand drops due to fear of Corona Virus Pandemic and a Price war between Saudi Arabia and Russia.
Now we can see more downfall in the coming days but before that, we can see a small pullback in the prices as we saw today crude was unable to test its crucial Support level of 1580 and made a low of 1594.
Immediate Supports and Resistances of Crude for 31st March i.e. Tuesday are: –
Resistance 1 – 1646
Resistance 2 – 1662
Resistance 3 – 1680
Support 1 – 1596
Support 2 – 1580
Support 3 – 1560
Note:- All Support and Resistance Levels are only for Intraday.
ProCapitas Market-Pro Team