Crude Oil Technical Analysis October 16, 2023
Crude Oil rose 4.73% against the USD on Friday and closed at 87.92. Today in the European session, while the Crude Oil technical Analysis October 16, 2023, is prepared at 5:15 GMT, the Crude Oil is trading at 87.60, which is 0.33% lower than Yesterday’s close.
The pair is expected to find support at 87.20 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 88.00 and a rise-through could take it to the next resistance level of 88.40. Today’s expected trading range is between 85.45 support and 90.75 resistance.
The expected trend for today is Bullish
Important support levels:
Support 1: 87.20
Support 2: 87.00
Support 3: 85.45
Important resistance levels:
Resistance 1: 88.00
Resistance 2: 88.40
Resistance 3: 90.75