Crude Oil Technical Analysis 18 October 2019
Crude Oil Technical Analysis : The Crude Oil rose 1.92% against the USD on Thursday and closed at 54.04. Today in the European session while Crude Oil technical Analysis 18 October 2019 is preparing at 7:45 GMT, the Crude Oil trading at 53.83, which is 0.38% lower from Yesterday’s close.
The pair is expected to find support at 53.10 and a fall through could take it to the next support level of 52.15 The pair is expected to find its first resistance at 54.60 and a rise through could take it to the next resistance level of 55.15. For today the expected trading range is between 52.15 Support and 55.15 Resistance.
The expected trend for today is Bearish
Supports Levels: Support 1: 53.10, Support 2: 52.15, Support 3: 51.60
Resistance Levels: Resistance 1: 54.60, Resistance 2: 55.15, Resistance 3: 56.15
Crude Oil Buying Opportunity for Intraday Trading 18 October 2019
Buy near the support area 53.10 and 52.15 as soon as you get reversal candlesticks patterns using stop loss 2 pips below the low of reversal candlestick & keep target equal to stop loss.
Crude Oil Selling Opportunity for Intraday Trading 18 October 2019
Sell near the resistance area 54.60 and 55.15 as soon as you get reversal candlesticks patterns using stop loss 2 pips above the high of reversal candlestick & keep target equal to stop loss.