Crude Oil Technical Analysis September 18, 2018
The Crude Oil declined 0.39% against the USD on Monday and closed at 68.46. Today in the European session while crude oil technical analysis September 18, 2018 is preparing at 10:15 GMT, the Crude Oil trading at 69.50, which is 1.5% higher from Yesterday’s close.
Crude Oil prices rose sharply on Tuesday after officials in Saudi Arabia said they could raise prices in the short term. Saudi Arabian officials said they were satisfied with Brent’s price break of $80 a barrel because of the supply losses caused by the US sanctions. US Energy Secretary Perry said on Friday that he does not expect any price spikes, and that Saudi Arabia, Russia and the United States may increase global production in the next 18 months.
Crude Oil technical analysis September 18 2018
The pair is expected to find support at 68.00 and a fall through could take it to the next support level of 67.53. The pair is expected to find its first resistance at 69.93, and a rise through could take it to the next resistance level of 70.40. For today the expected trading range is between 69.43, Support and 70.81 Resistance.
The expected trend for today is Bullish
Supports Levels: Support 1: 68.00 Support 2: 67.50 Support 3: 68.75
Resistance Levels: Resistance 1: 69.20 Resistance 2: 69.93 Resistance 3: 70.40
Previous day`s high: 69.46
Previous day`s low: 68.26
Crude Oil Buying Opportunity for Intraday Trading September 18, 2018
Buy near the support area 68.03 and 67.50 as soon as you get reversal candlesticks patterns like Hammer, Bullish Englufing, Long Leged Doji or Dragonfly Doji, using stop loss 2 pips below the reversal candlestick & keep target equal to stop loss.
Crude Oil Selling Opportunity for Intraday Trading September 18, 2018
Sell near the resistance area 69.93 and 70.40 as soon as you get reversal candlesticks patterns like Shooting Star, Bearish Englufing, Long Leged Doji or Gravestone Doji, using stop loss 2 pips above the reversal candlestick & keep target equal to stop loss.