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Crude Oil Technical Analysis Aug 16, 2019

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Crude Oil Technical Analysis Aug 16, 2019

Crude Oil Technical Analysis : The Crude Oil declined 0.52% against the USD on Thursday and closed at 54.51. Today in the European session while Crude Oil technical Analysis Aug 16, 2019 is preparing at 7:45 GMT, the Crude Oil trading at 55.35, which is 1.54% higher from Yesterday’s close.

The pair is expected to find support at 53.73 and a fall through could take it to the next support level of 52.95 The pair is expected to find its first resistance at 56.00, and a rise through could take it to the next resistance level of 56.80. For today the expected trading range is between 52.95 Support and 56.80 Resistance.

The expected trend for today is Bearish

Supports Levels: Support 1: 53.73, Support 2: 52.95, Support 3: 52.20
Resistance Levels: Resistance 1: 55.27, Resistance 2: 56.00, Resistance 3: 56.80

Crude Oil Buying Opportunity for Intraday Trading Aug 16, 2019

Buy near the support area 53.73 and 52.95 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 16, 2019

Sell near the resistance area 56.00 and 56.80 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.

Gold Technical Analysis Aug 16, 2019

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