ganeshbabu6

CRUDE REVERSAL POSSIBLE ?

ganeshbabu6 Updated   
NYMEX_DL:CL1!   Light Crude Oil Futures
TREND - NEGATIVE Previous high must be taken out and sustained

PRESENT ZONE-Taken support at montly demand zone

FORECAST-if Powel statement today is positive it may reverse and gain upto 80 or may fall to 72.5
Trade active:
TREND NEGATIVE

taking support at Monthly D zone.
77.64 again is Monthly Sell zone and coincides with Pre High zone

so after grinding may target above SUPPLY ZONE 1 at 80 as 2.2 $ gap is there
Trade active:
Unable to cross previous high.
encountering Monthly,weekly selling zone at 77.64.
But support taken at 75
Grinding only expected.depending upon todays US inflation data
either it may break above or below
Comment:
US inflation data positive
will target 80 $


IF HELPFUL PLS CLICK THE BOOST ICON
Trade closed: target reached:
Touched 79.77 $ almost 80
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.