Crude Oil Technical Analysis 1 May 2020
Crude Oil Technical Analysis : The Crude Oil rose 19.17% against the USD on Thursday and closed at 20.63. Today in the European session while Crude Oil technical Analysis 3 May 2020 is preparing at 6:45 GMT, the Crude Oil trading at 21.10, which is 2.27% higher from Yesterday’s close.
The pair is expected to find support at 18.33 and a fall through could take it to the next support level of 16.00 The pair is expected to find its first resistance at 21.90 and a rise through could take it to the next resistance level of 23.00. For today the expected trading range is between 16.00 Support and 25.40 Resistance.
The expected trend for today is Bullish
Supports Levels: Support 1: 18.33, Support 2: 16.00, Support 3: 14.80
Resistance Levels: Resistance 1: 21.90, Resistance 2: 23.00, Resistance 3: 25.40
Crude Oil Buying Opportunity for Intraday Trading 1 May 2020
Buy near the support area 18.33 and 16.00 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 1 May 2020
Sell near the resistance area 21.90 and 23.00 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.