Crude Oil Technical Analysis 31 August 2020
Crude Oil Technical Analysis : The Crude Oil declined 0.02% against the USD on Thursday and closed at 43.05. Today in the Asian session, while Crude Oil technical Analysis 31 August 2020 is preparing at 5:45 GMT, the Crude Oil trading at 43.56, which is 1.18% higher from Yesterday’s close.
The pair is expected to find support at 42.85 and a fall through could take it to the next support level of 42.70 The pair is expected to find its first resistance at 43.80 and a rise through could take it to the next resistance level of 44.10. Today’s expected trading range is between 44.45 support and 45.00 resistance.
The expected trend for today is Bullish
Important support levels:
Support 1: 42.85
Support 2: 42.70
Support 3: 42.45
Important resistance levels:
Resistance 1: 43.80
Resistance 2: 44.10
Resistance 3: 45.00
Crude Oil buying opportunity for intraday trading on August 31, 2020
Buy near the support zones 42.85 and 42.70 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 August 31, 2020
Sell near the resistance zones 43.80 and 44.10 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.