Crude Oil Technical Analysis 20 April 2020
Crude Oil Technical Analysis : The Crude Oil declined 4.49% against the USD on Friday and closed at 25.47. Today in the Asian session while Crude Oil technical Analysis 20 April 2020 is preparing at 6:45 GMT, the Crude Oil trading at 23.65, which is 7.14% lower from Yesterday’s close.
The pair is expected to find support at 23.60 and a fall through could take it to the next support level of 22.38 The pair is expected to find its first resistance at 22.68 and a rise through could take it to the next resistance level of 27.90. For today the expected trading range is between 22.38 Support and 23.68 Resistance.
The expected trend for today is Bearish
Supports Levels: Support 1: 24.52, Support 2: 23.60, Support 3: 22.38
Resistance Levels: Resistance 1: 22.68, Resistance 2: 27.90, Resistance 3: 28.83
Crude Oil Buying Opportunity for Intraday Trading 20 April 2020
Buy near the support area 23.60 and 22.38 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 20 April 2020
Sell near the resistance area 22.68 and 27.90 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.