As we projected earlier this week and seen on our previous chart, Crude Oil managed to sustain an advance movement on escalating risk on the Red Sea.
Intraday levels are showing the first support at around the 80.00 zone, where as long as the market holds above this support, then the advance movement could sustain toward the 83.80-84.20 resistance zone.
Prices yesterday re-tested the support level of 80.00 and below this area the market could face a further drop towards 77.50.
| SUPPORT | RESISTANCE | |
| LEVEL1 | 80.00 | 81.60 |
| LEVEL2 | 79.00 | 83.00 |
| LEVEL3 | 77.40 | 83.80-84.20 |
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