Crude Oil Technical Analysis May 18, 2023
Crude Oil declined 2.96% against the USD on Wednesday and closed at 72.73. Today in the European session, while the Crude Oil technical Analysis May 18, 2023, is prepared at 5:15 GMT, the Crude Oil is trading at 72.80, which is 0.11% higher than Yesterday’s close.
The pair is expected to find support at 72.00 and a fall-through could take it to the next support level of 71.80 The pair is expected to find its first resistance at 73.10 and a rise-through could take it to the next resistance level of 73.40. Today’s expected trading range is between 70.80 support and 73.80 resistance.
The expected trend for today is Bullish
Important support levels:
Support 1: 72.00
Support 2: 71.80
Support 3: 70.80
Important resistance levels:
Resistance 1: 73.10
Resistance 2: 73.40
Resistance 3: 73.80