Crude Oil Technical Analysis Aug 2, 2019
Crude Oil Technical Analysis : The Crude Oil declined 5.89% against the USD onThursday and closed at 54.45. Today in the European session while Crude Oil technical Analysis Aug 2, 2019 is preparing at 7:45 GMT, the Crude Oil trading at 55.25, which is 1.46% higher from Yesterday’s close.
The pair is expected to find support at 52.70 and a fall through could take it to the next support level of 50.94. The pair is expected to find its first resistance at 57.10, and a rise through could take it to the next resistance level of 59.72. For today the expected trading range is between 52.70 Support and 57.10 Resistance.
The expected trend for today is Bullish
Supports Levels: Support 1: 52.70, Support 2: 50.94, Support 3: 48.30
Resistance Levels: Resistance 1: 57.10, Resistance 2: 59.72, Resistance 3: 61.47
Crude Oil Buying Opportunity for Intraday Trading Aug 2, 2019
Buy near the support area 52.70 and 50.94 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 Aug 2, 2019
Sell near the resistance area 57.10 and 59.72 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.