Crude Oil Technical Analysis 19 May 2020
Crude Oil Technical Analysis : The Crude Oil rose 8.58% against the USD on Monday and closed at 32.27. Today in the European session while Crude Oil technical Analysis 19 May 2020 is preparing at 6:45 GMT, the Crude Oil trading at 32.10, which is 0.52% lower from Yesterday’s close.
The pair is expected to find support at 30.20 and a fall through could take it to the next support level of 28.10 The pair is expected to find its first resistance at 33.70 and a rise through could take it to the next resistance level of 35.15. For today the expected trading range is between 28.10 Support and 35.15 Resistance.
The expected trend for today is Bullish
Supports Levels: Support 1: 30.20, Support 2: 28.10, Support 3: 26.70
Resistance Levels: Resistance 1: 33.70, Resistance 2: 35.15, Resistance 3: 37.20
Crude Oil Buying Opportunity for Intraday Trading 19 May 2020
Buy near the support area 30.20 and 28.10 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 19 May 2020
Sell near the resistance area 33.70 and 35.15 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.