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Crude Oil Technical Analysis February 8, 2019

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Crude Oil Technical Analysis February 8, 2019

The Crude Oil declined 2.45% against the USD on Thursday and closed at 52.77. Today in the European session while Crude Oil technical analysis February 8, 2019 is preparing at 9:45 GMT, the Crude Oil trading at 52.50, which is 0.51% lower from Yesterday’s close.

The pair is expected to find support at 51.72 and a fall through could take it to the next support level of 50.65 The pair is expected to find its first resistance at 54.10, and a rise through could take it to the next resistance level of 55.45 For today the expected trading range is between 50.65, Support and 55.45 Resistance.

The expected trend for today is Bearish

Supports Levels: Support 1: 51.72 Support 2: 50.65 Support 3: 49.32
Resistance Levels: Resistance 1: 54.10 Resistance 2: 55.45 Resistance 3: 56.50

Crude Oil Buying Opportunity for Intraday Trading February 8, 2019

Buy near the support area 51.72 and 52.65 as soon as you get reversal candlesticks patterns using stop loss 4 pips below the reversal candlestick & keep target equal to stop loss.

Crude Oil Selling Opportunity for Intraday Trading February 8, 2019

Sell near the resistance area 54.10 and 55.45 as soon as you get reversal candlesticks patterns using stop loss 4 pips above the reversal candlestick & keep target equal to stop loss.

Gold Technical Analysis February 8, 2019

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