Crude Oil Technical Analysis May 8, 2023
Crude Oil rose 3.71% against the USD on Friday and closed at 71.35. Today in the European session, while the Crude Oil technical Analysis May 8, 2023, is prepared at 5:15 GMT, the Crude Oil is trading at 73.00, which is 2.35% higher than Yesterday’s close.
The pair is expected to find support at 71.00 and a fall-through could take it to the next support level of 69.70 The pair is expected to find its first resistance at 74.00 and a rise-through could take it to the next resistance level of 74.60. Today’s expected trading range is between 68.00 support and 76.00 resistance.
The expected trend for today is Bullish
Important support levels:
Support 1: 71.00
Support 2: 69.70
Support 3: 68.00
Important resistance levels:
Resistance 1: 74.00
Resistance 2: 74.60
Resistance 3: 76.00