Crude Oil Technical Analysis September 21, 2018
The Crude Oil declined 1.17% against the USD on Tuesday and closed at 70.04. Today in the European session while Crude Oil technical analysis September 21, 2018 is preparing at 10:45 GMT, the Crude Oil trading at 70.70, which is 0.79% higher from Yesterday’s close.
US West Texas Intermediate crude oil futures rose shortly before the opening of the spot market on Friday. President Trump criticized the OPEC policy on Thursday and called on cartels and their allies to solve the price increase problem, and traders seem to dismiss this series of tweets. As sanctions against Iran are imminent, concerns about supply shortages continue to support prices.
Crude Oil technical analysis September 21 2018
The pair is expected to find support at 69.58 and a fall through could take it to the next support level of 69.10. The pair is expected to find its first resistance at 70.88, and a rise through could take it to the next resistance level of 71.70. For today the expected trading range is between 69.77, Support and 72.67 Resistance.
The expected trend for today is Bullish
Supports Levels: Support 1: 69.58 Support 2: 69.10 Support 3: 68.28
Resistance Levels: Resistance 1: 70.88 Resistance 2: 71.70 Resistance 3: 72.18
Previous day`s high: 71.25
Previous day`s low: 69.95
Crude Oil Buying Opportunity for Intraday Trading September 21, 2018
Buy near the support area 69.58 and 69.10 as soon as you get reversal candlesticks patterns like Hammer, Bullish Englufing, Long Leged Doji or Dragonfly Doji, using stop loss 2 pips below the reversal candlestick & keep target equal to stop loss.
Crude Oil Selling Opportunity for Intraday Trading September 21, 2018
Sell near the resistance area 70.88 and 71.70 as soon as you get reversal candlesticks patterns like Shooting Star, Bearish Englufing, Long Leged Doji or Gravestone Doji, using stop loss 2 pips above the reversal candlestick & keep target equal to stop loss.