Crude Oil Technical Analysis November 16, 2018
The Crude Oil rose 0.97% against the USD on Thursday and closed at 56.70. Today in the European session while Crude Oil technical analysis November 16, 2018 is preparing at 9:45 GMT, the Crude Oil trading at 57.10, which is 0.70% higher from Yesterday’s close.
The pair is expected to find support at 55.83 and a fall through could take it to the next support level of 54.96. The pair is expected to find its first resistance at 57.50, and a rise through could take it to the next resistance level of 58.28. For today the expected trading range is between 54.96, Support and 59.15 Resistance.
The expected trend for today is Bullish
Supports Levels: Support 1: 55.83 Support 2: 54.96 Support 3: 54.17
Resistance Levels: Resistance 1: 57.50 Resistance 2: 58.28 Resistance 3: 59.15
Crude Oil Buying Opportunity for Intraday Trading November 16, 2018
Buy near the support area 55.83 and 54.96 as soon as you get reversal candlesticks patterns using stop loss 4 pips below the reversal candlestick & keep target equal to stop loss.
Crude Oil Selling Opportunity for Intraday Trading November 16, 2018
Sell near the resistance area 57.50 and 58.28 as soon as you get reversal candlesticks patterns using stop loss 4 pips above the reversal candlestick & keep target equal to stop loss.