Crude Oil Technical Analysis September 24, 2018
The Crude Oil rose 1.82% against the USD on Friday and closed at 70.67. Today in the European session while Crude Oil technical analysis September 24, 2018 is preparing at 10:45 GMT, the Crude Oil trading at 71.90, which is 1.68% higher from Yesterday’s close.
Crude oil prices opened higher on Monday after Saudi Arabia announced that the Organization of Petroleum Exporting Countries is unlikely to follow US President Donald Trump’s hope that the crude oil cartel “make some changes in oil price increases” and soon increase the oil mafia’s production target.
Crude Oil technical analysis September 24 2018
The pair is expected to find support at 69.80 and a fall through could take it to the next support level of 68.94. The pair is expected to find its first resistance at 72.94, and a rise through could take it to the next resistance level of 73.40. For today the expected trading range is between 69.77, Support and 72.67 Resistance.
The expected trend for today is Bullish
Supports Levels: Support 1: 69.80 Support 2: 68.94 Support 3: 68.00
Resistance Levels: Resistance 1: 71.60 Resistance 2: 72.94 Resistance 3: 73.40
Previous day`s high: 71.67
Previous day`s low: 69.87
Crude Oil Buying Opportunity for Intraday Trading September 24, 2018
Buy near the support area 69.80 and 68.94 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 24, 2018
Sell near the resistance area 72.94 and 73.40 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.