Crude Oil Technical Analysis Aug 8, 2019
Crude Oil Technical Analysis : The Crude Oil declined 2.19% against the USD on Wednesday and closed at 52.15. Today in the European session while Crude Oil technical Analysis Aug 8, 2019 is preparing at 7:45 GMT, the Crude Oil trading at 52.18, which is 0.05% higher from Yesterday’s close.
The pair is expected to find support at 50.50 and a fall through could take it to the next support level of 48.86 The pair is expected to find its first resistance at 53.73, and a rise through could take it to the next resistance level of 55.22. For today the expected trading range is between 48.86 Support and 53.73 Resistance.
The expected trend for today is Bearish
Supports Levels: Support 1: 50.50, Support 2: 48.86, Support 3: 47.27
Resistance Levels: Resistance 1: 53.73, Resistance 2: 55.32, Resistance 3: 56.96
Crude Oil Buying Opportunity for Intraday Trading Aug 8, 2019
Buy near the support area 50.50 and 48.86 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 8, 2019
Sell near the resistance area 53.73 and 55.92 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.