Crude Oil Technical Analysis Aug 16, 2023
Crude Oil declined 1.78% against the USD on Tuesday and closed at 81.07. Today in the European session, while the Crude Oil technical Analysis Aug 16, 2023, is prepared at 5:15 GMT, the Crude Oil is trading at 82.80, which is 0.31% lower than Yesterday’s close.
The pair is expected to find support at 80.50 and a fall-through could take it to the next support level of 80.00 The pair is expected to find its first resistance at 81.20 and a rise-through could take it to the next resistance level of 81.90. Today’s expected trading range is between 78.90 support and 83.00 resistance.
The expected trend for today is Bearish
Important support levels:
Support 1: 80.50
Support 2: 80.00
Support 3: 78.90
Important resistance levels:
Resistance 1: 81.20
Resistance 2: 81.90
Resistance 3: 83.00