Crude Oil Technical Analysis August 16, 2022
Crude Oil rose 4.55% against the USD on Monday and closed at 88.02. Today in the European session, while the Crude Oil technical Analysis August 16, 2022, is preparing at 5:15 GMT, the Crude Oil is trading at 88.58, which is 0.64% higher than Yesterday’s close.
The pair is expected to find support at 88.00 and a fall through could take it to the next support level of 87.00 The pair is expected to find its first resistance at 89.00 and a rise through could take it to the next resistance level of 89.70. Today’s expected trading range is between 84.00 support and 91.50 resistance.
The expected trend for today is Bullish
Important support levels:
Support 1: 88.00
Support 2: 87.70
Support 3: 84.00
Important resistance levels:
Resistance 1: 89.00
Resistance 2: 89.70
Resistance 3: 91.50