Crude Oil Technical Analysis May 17, 2023
Crude Oil declined 1.07% against the USD on Tuesday and closed at 70.57. Today in the European session, while the Crude Oil technical Analysis May 17, 2023, is prepared at 5:15 GMT, the Crude Oil is trading at 71.80, which is 1.73% higher than Yesterday’s close.
The pair is expected to find support at 70.10 and a fall-through could take it to the next support level of 69.40 The pair is expected to find its first resistance at 72.00 and a rise-through could take it to the next resistance level of 72.80. Today’s expected trading range is between 68.00 support and 73.80 resistance.
The expected trend for today is Bullish
Important support levels:
Support 1: 79.10
Support 2: 69.40
Support 3: 68.00
Important resistance levels:
Resistance 1: 72.00
Resistance 2: 72.80
Resistance 3: 73.80