Crude Oil Technical Analysis Aug 12, 2019
Crude Oil Technical Analysis : The Crude Oil rose 2.48% against the USD on Friday and closed at 54.06. Today in the European session while Crude Oil technical Analysis Aug 12, 2019 is preparing at 7:45 GMT, the Crude Oil trading at 53.95, which is 0.20% lower from Yesterday’s close.
The pair is expected to find support at 52.64 and a fall through could take it to the next support level of 51.21 The pair is expected to find its first resistance at 55.10, and a rise through could take it to the next resistance level of 56.13. For today the expected trading range is between 51.21 Support and 56.13 Resistance.
The expected trend for today is Bullish
Supports Levels: Support 1: 52.64, Support 2: 51.21, Support 3: 50.18
Resistance Levels: Resistance 1: 55.10, Resistance 2: 56.13, Resistance 3: 57.57
Crude Oil Buying Opportunity for Intraday Trading Aug 12, 2019
Buy near the support area 52.64 and 51.21 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 Aug 12, 2019
Sell near the resistance area 55.10 and 56.13 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.