Crude Oil Technical Analysis 4 March 2021
Crude Oil Technical Analysis : The Crude Oil rose 2.62% against the USD on Wednesday and closed at 61.02. Today in the Asian session, while Crude Oil technical Analysis 28 December 2020 is preparing at 5:15 GMT, the Crude Oil trading at 61.75, which is 1.18% higher from Yesterday’s close.
The pair is expected to find support at 60.60 and a fall through could take it to the next support level of 59.50 The pair is expected to find its first resistance at 62.20 and a rise through could take it to the next resistance level of 63.00. Today’s expected trading range is between 58.60 support and 53.60 resistance.
The expected trend for today is Bullish
Important support levels:
Support 1: 60.60
Support 2: 59.50
Support 3: 58.60
Important resistance levels:
Resistance 1: 62.20
Resistance 2: 63.00
Resistance 3: 63.60
Crude Oil buying opportunity for intraday trading on March 4, 2021
Buy near the support zones 62.20 and 59.50 as soon as you get a reversal candlestick pattern, using a stop loss 2 points below the low of the reversal candle, and keep the target equal to the stop loss.
Crude Oil selling opportunity for intraday trading on March 4, 2021
Sell near the resistance zones 60.60 and 59.50 as soon as you get a reversal candlestick pattern, using a stop loss 2 points above the high of the reversal candle, and keep the target equal to the stop loss.