Crude Oil Technical Analysis May 16, 2022
Crude Oil rose 3.38% against the USD on Friday and closed at 108.70. Today in the Asian session, while Crude Oil technical Analysis May 16, 2022, is preparing at 5:45 GMT, the Crude Oil is trading at 107.61, which is 0.99% lower than Yesterday’s close.
The pair is expected to find support at 106.40 and a fall through could take it to the next support level of 105.50 The pair is expected to find its first resistance at 108.20 and a rise through could take it to the next resistance level of 109.90. Today’s expected trading range is between 103.70 support and 112.50 resistance.
The expected trend for today is Bullish
Important support levels:
Support 1: 106.40
Support 2: 104.80
Support 3: 103.70
Important resistance levels:
Resistance 1: 108.20
Resistance 2: 109.90
Resistance 3: 112.50