Crude Oil Technical Analysis 4 May 2020
Crude Oil Technical Analysis : The Crude Oil rose 2.43% against the USD on Friday and closed at 21.07. Today in the European session while Crude Oil technical Analysis 4 May 2020 is preparing at 6:45 GMT, the Crude Oil trading at 21.50, which is 2.04% higher from Yesterday’s close.
The pair is expected to find support at 19.80 and a fall through could take it to the next support level of 18.53 The pair is expected to find its first resistance at 22.12 and a rise through could take it to the next resistance level of 23.17. 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: 19.80, Support 2: 18.53, Support 3: 17.48
Resistance Levels: Resistance 1: 22.12, Resistance 2: 23.17, Resistance 3: 24.45
Crude Oil Buying Opportunity for Intraday Trading 4 May 2020
Buy near the support area 19.80 and 18.53 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 4 May 2020
Sell near the resistance area 22.12 and 23.17 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.