. Crude Oil (Light Sweet) Weekly Price Forecast & Analysis - 17 April

Crude Oil (Light Sweet) Weekly Price Forecast & Analysis – 17 April

17 Apr 2023

Crude Oil (Light Sweet) Technical Analysis: Weekly Chart

In the weekly charts, Crude Oil was trading in a down channel. Crude Oil is currently trading below all SMA except MA (20).

RSI is in the neutral zone which indicates neutralness. MACD is currently below zero which indicates bearishness.

Its immediate support is 75.00 the resistance level is at 87.00

Crude Oil was traded in a down channel before there is a downside breakout.

Crude Oil (light sweet) Technical Analysis: Daily Chart

In the daily charts, Crude Oil was trading in a down channel. Crude Oil is currently trading above all SMA.

RSI is in the buying zone which indicates bullishness. MACD is currently above zero which indicates bullishness.

Its immediate support is 76.15 the resistance level is 86.50

Crude Oil was traded in a down channel before there is an upside breakout

How to Trade Crude Oil this Week:

Crude Oil will follow the uptrend until its trend reversal. So, remain bullish on Crude Oil.

TRADE SUGGESTION- BUY AT 81.18, TAKE PROFIT AT 86.50 AND STOP LOSS AT 77.50