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CRUDE OUTLOOK

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President Donald Trump announced that on Thursday Saudi Arabia and Russia will be cutting crude oil production by about 10 million barrels in an effort to shore up oil prices, sending crude rocketing higher.

Trump tweeted that after speaking with Saudi Arabia Crown Prince Mohammed bin Salman, who spoke with Russian President Vladimir Putin, the two have agreed to cool off their price war and cut production, which would help the U.S. energy industry.

As we saw in the last trading session that the crucial support level of 1580 broke but was unable to sustain, indicating fear among the sellers

CRUCIAL SUPPORT AND RESISTANCE FOR 3rd APRIL i.e. FRIDAY :-

Resistance 1 – 1704
Resistance 2 – 1741
Resistance 3 – 1794

Support 1 – 1643
Support 2 – 1601
Support 3 – 1574

We are Expecting Approx 4-5% Gap Up opening On 3rd April.

These Levels are for Intraday only.

Suggestion- DON'T MAKE ANY LONG POSITION OR ANY SHORT POSITION FOR DELIVERY.


Thanks 
ProCapitas Market Pro Team

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