Crude Oil Technical Analysis January 29, 2019
The Crude Oil declined 2.83% against the USD on Monday and closed at 52.11. Today in the European session while Crude Oil technical analysis January 29, 2019 is preparing at 9:45 GMT, the Crude Oil trading at 52.50, which is 0.71% higher from Yesterday’s close.
The pair is expected to find support at 51.10 and a fall through could take it to the next support level of 50.10 The pair is expected to find its first resistance at 53.40, and a rise through could take it to the next resistance level of 54.67. For today the expected trading range is between 50.10, Support and 54.67 Resistance.
The expected trend for today is Bearish
Supports Levels: Support 1: 51.10 Support 2: 50.10 Support 3: 48.83
Resistance Levels: Resistance 1: 53.40 Resistance 2: 54.67 Resistance 3: 55.67
Crude Oil Buying Opportunity for Intraday Trading January 29, 2019
Buy near the support area 51.10 and 50.10 as soon as you get reversal candlesticks patterns using stop loss 4 pips below the reversal candlestick & keep target equal to stop loss.
Crude Oil Selling Opportunity for Intraday Trading January 29, 2019
Sell near the resistance area 53.40 and 54.67 as soon as you get reversal candlesticks patterns using stop loss 4 pips above the reversal candlestick & keep target equal to stop loss.