Crude Oil Technical Analysis 12 January 2021
Crude Oil Technical Analysis : The Crude Oil declined 0.93% against the USD on Monday and closed at 52.11. Today in the Asian session, while Crude Oil technical Analysis 28 December 2020 is preparing at 5:15 GMT, the Crude Oil trading at 52.11, which is 1.52% higher from Yesterday’s close.
The pair is expected to find support at 52.00 and a fall through could take it to the next support level of 51.50 The pair is expected to find its first resistance at 53.25 and a rise through could take it to the next resistance level of 53.80. Today’s expected trading range is between 50.00 support and 54.50 resistance.
The expected trend for today is Bullish
Important support levels:
Support 1: 52.00
Support 2: 51.50
Support 3: 50.00
Important resistance levels:
Resistance 1: 53.25
Resistance 2: 53.80
Resistance 3: 54.50
Crude Oil buying opportunity for intraday trading on January 12, 2021
Buy near the support zones 52.00 and 51.50 as soon as you get a reversal candlestick pattern, using a stop loss 2 points below the low of the reversal candle, and keep the target equal to the stop loss.
Crude Oil selling opportunity for intraday trading on January 12, 2021
Sell near the resistance zones 53.25 and 53.80 as soon as you get a reversal candlestick pattern, using a stop loss 2 points above the high of the reversal candle, and keep the target equal to the stop loss.