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Crude Oil technical analysis and levels to watch

Crude Oil technical analysis and levels to watch

As mentioned in the latest analysis,  our LONG target was 65.25 – 65.50 region.

Then we followed the bearish harmonic pattern, and our second target was 64.06. Price reached the second target and reacted. – 110 pips were not bad –

We tried to explain the bullish and bearish fundamentals of Crude Oil.

The main trend is bullish.

Intraday Levels to keep eye on :

64.84 is the first support. The bullish move will continue as long as the price holds above 64.84.

65.26  and 65.63 are the next targets. Daily closing above 65.63 will take the price 66.41 and 67.49.

If the breaks below 64.84, 64.45 and 64.06 will be the targets of Crude Oil.

63.33 is the EMA support and can be used as buying opportunity.

Good Luck

DISCLAIMER: This is a technical analysis study, not an advice or recommendation to invest money on.

 

 

 

Crude Oil Technical Analysis: Involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. Chartreaderpro does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility

 

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