Crude Oil Technical Analysis 5 May 2020
Crude Oil Technical Analysis : The Crude Oil rose 10.06% against the USD on Monday and closed at 22.63. Today in the European session while Crude Oil technical Analysis 4 May 2020 is preparing at 6:45 GMT, the Crude Oil trading at 23.90, which is 5.61% higher from Yesterday’s close.
The pair is expected to find support at 20.65 and a fall through could take it to the next support level of 18.70 The pair is expected to find its first resistance at 23.70 and a rise through could take it to the next resistance level of 24.75. For today the expected trading range is between 20.65 Support and 26.75 Resistance.
The expected trend for today is Bullish
Supports Levels: Support 1: 20.65, Support 2: 18.70, Support 3: 17.60
Resistance Levels: Resistance 1: 23.70, Resistance 2: 24.75, Resistance 3: 26.55
Crude Oil Buying Opportunity for Intraday Trading 5 May 2020
Buy near the support area 20.65 and 18.70 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 5 May 2020
Sell near the resistance area 23.70 and 24.75 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.