Crude Oil Technical Analysis Aug 22, 2019
Crude Oil Technical Analysis : The Crude Oil declined 0.32% against the USD on Wednesday and closed at 55.78. Today in the European session while Crude Oil technical Analysis Aug 22, 2019 is preparing at 7:45 GMT, the Crude Oil trading at 56.00, which is 0.39% higher from Yesterday’s close.
The pair is expected to find support at 55.15 and a fall through could take it to the next support level of 54.55 The pair is expected to find its first resistance at 56.70 and a rise through could take it to the next resistance level of 57.65. For today the expected trading range is between 54.55 Support and 57.65 Resistance.
The expected trend for today is Bearish
Supports Levels: Support 1: 55.15, Support 2: 54.44, Support 3: 53.60
Resistance Levels: Resistance 1: 56.70, Resistance 2: 57.65, Resistance 3: 58.25
Crude Oil Buying Opportunity for Intraday Trading Aug 16, 2019
Buy near the support area 55.15 and 54.55 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 16, 2019
Sell near the resistance area 56.70 and 57.65 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.