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Crude Oil Technical Analysis May 9, 2023

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Crude Oil Technical Analysis May 9, 2023

Crude Oil rose 1.90% against the USD on Monday and closed at 72.80. Today in the European session, while the Crude Oil technical Analysis May 9, 2023, is prepared at 5:15 GMT, the Crude Oil is trading at 72.35, which is 0.60% lower than Yesterday’s close.

The pair is expected to find support at 73.30 and a fall-through could take it to the next support level of 71.20 The pair is expected to find its first resistance at 73.00 and a rise-through could take it to the next resistance level of 73.50. Today’s expected trading range is between 69.70 support and 74.00 resistance.

The expected trend for today is Bullish

Important support levels:

Support 1: 72.30
Support 2: 71.20
Support 3: 69.70

Important resistance levels:

Resistance 1: 73.00
Resistance 2: 73.50
Resistance 3: 74.00

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