Crude Oil Technical Analysis 22 December 2020
Crude Oil Technical Analysis : The Crude Oil declined 2.98% against the USD on Monday and closed at 47.80. Today in the Asian session, while Crude Oil technical Analysis 22 December 2020 is preparing at 5:15 GMT, the Crude Oil trading at 47.05, which is 1.57% lower from Yesterday’s close.
The pair is expected to find support at 46.25 and a fall through could take it to the next support level of 45.85 The pair is expected to find its first resistance at 47.85 and a rise through could take it to the next resistance level of 49.65. Today’s expected trading range is between 45.10 support and 49.30 resistance.
The expected trend for today is Bearish
Important support levels:
Support 1: 46.25
Support 2: 45.85
Support 3: 45.10
Important resistance levels:
Resistance 1: 47.85
Resistance 2: 49.30
Resistance 3: 50.00
Crude Oil buying opportunity for intraday trading on December 22, 2020
Buy near the support zones 46.25 and 45.85 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 December 22, 2020
Sell near the resistance zones 47.85 and 49.30 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.