Crude Oil Technical Analysis 20 May 2020
Crude Oil Technical Analysis : The Crude Oil declined 1.42% against the USD on Tuesday and closed at 31.88. Today in the European session while Crude Oil technical Analysis 20 May 2020 is preparing at 6:45 GMT, the Crude Oil trading at 32.20, which is 1.00% higher from Yesterday’s close.
The pair is expected to find support at 31.00 and a fall through could take it to the next support level of 30.25 The pair is expected to find its first resistance at 32.00 and a rise through could take it to the next resistance level of 33.75. For today the expected trading range is between 29.30 Support and 34.60 Resistance.
The expected trend for today is Bullish
Supports Levels: Support 1: 31.00, Support 2: 30.25, Support 3: 29.30
Resistance Levels: Resistance 1: 32.80, Resistance 2: 33.75, Resistance 3: 34.60
Crude Oil Buying Opportunity for Intraday Trading 20 May 2020
Buy near the support area 31.00 and 30.25 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 May 2020
Sell near the resistance area 32.80 and 33.75 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.