Crude Oil Technical Analysis May 5, 2022
Crude Oil rose 3.87% against the USD on Wednesday and closed at 106.70. Today in the Asian session, while Crude Oil technical Analysis May 5, 2022, is preparing at 3:45 GMT, the Crude Oil is trading at 107.10, which is 0.29% higher from Yesterday’s close.
The pair is expected to find support at 104.75 and a fall through could take it to the next support level of 104.10 The pair is expected to find its first resistance at 106.95 and a rise through could take it to the next resistance level of 108.00. Today’s expected trading range is between 101.30 support and 113.00 resistance.
The expected trend for today is Bullish
Important support levels:
Support 1: 104.75
Support 2: 104.10
Support 3: 101.30
Important resistance levels:
Resistance 1: 107.80
Resistance 2: 109.00
Resistance 3: 113.00