Crude Oil Technical Analysis 8 April 2020
Crude Oil Technical Analysis : The Crude Oil declined 3.98% against the USD on Tuesday and closed at 27.92. Today in the European session while Crude Oil technical Analysis 8 April 2020 is preparing at 6:45 GMT, the Crude Oil trading at 28.36, which is 1.57% higher from Yesterday’s close.
The pair is expected to find support at 26.55 and a fall through could take it to the next support level of 25.15 The pair is expected to find its first resistance at 29.78 and a rise through could take it to the next resistance level of 31.34. For today the expected trading range is between 25.18 Support and 31.64 Resistance.
The expected trend for today is Bearish
Supports Levels: Support 1: 26.55, Support 2: 25.15, Support 3: 23.30
Resistance Levels: Resistance 1: 30.40, Resistance 2: 31.90, Resistance 3: 33.00
Crude Oil Buying Opportunity for Intraday Trading 8 April 2020
Buy near the support area 26.55 and 25.15 as soon as you get reversal candlesticks patterns using stop loss 2 pips below the low of reversal candlestick & keep target equal to stop loss.
Crude Oil Selling Opportunity for Intraday Trading 8 April 2020
Sell near the resistance area 29.78 and 31.38 as soon as you get reversal candlesticks patterns using stop loss 2 pips above the high of reversal candlestick & keep target equal to stop loss.