Crude Oil Technical Analysis 8 March 2021
Crude Oil Technical Analysis : The Crude Oil rose 3.37% against the USD on Friday and closed at 66.15. Today in the Asian session, while Crude Oil technical Analysis 28 December 2020 is preparing at 5:15 GMT, the Crude Oil trading at 66.65, which is 0.90% higher from Yesterday’s close.
The pair is expected to find support at 65.35 and a fall through could take it to the next support level of 64.40 The pair is expected to find its first resistance at 67.80 and a rise through could take it to the next resistance level of 69.00. Today’s expected trading range is between 63.50 support and 70.00 resistance.
The expected trend for today is Bullish
Important support levels:
Support 1: 65.35
Support 2: 64.40
Support 3: 63.50
Important resistance levels:
Resistance 1: 67.80
Resistance 2: 69.00
Resistance 3: 70.00
Crude Oil buying opportunity for intraday trading on March 8, 2021
Buy near the support zones 65.35 and 64.40as 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 March 8, 2021
Sell near the resistance zones 67.80 and 69.00 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.