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

Comment:

Daily Chart:

On the downside: We have 2 key levels to watch. 64.06 and 62.50. The bullish move will continue as long as the Crude Oil prices stay above 62.50.

On the upside: 66.41 67.19

On the downside: 65.63 64.84 64.06

Key Sub Levels for intraday trading:

Upside: 66.02

Down Side: 65.23 64.45

Pullbacks are buying opportunities.

Visit our web for more details.

Trade active:

Our pattern worked as predicted and generated 90 pips so far.