Brent Crude-Shorting Opportunity Low risk high reward short trade coming in this. Good to short near 68-69.5 with SL above 71 for target 62-58
will like to go long in BPCL on monday as see it as a low risk but good return kind of stock . corrected enough , possibly i might go 100 % correct
reliance has to give a pull back ..if it fails a downslide in nifty can be observed
IOC is taking a support at ~387 thought difficult to get a actual support line. But based on the chart this was a Resistance level and now is acting as support. For the short term the tops are getting lower and lower. The wedge formation has to end. the wedge started with a upward move hence it should move up once the wedge is over. Also rising oil prices is...
It has been observed that the price action corrected sharply from the 340-320 levels and deeply went down to the previous support zone at 200-210 levels where now buyers coming and volumes increasing. Overall, indicating an upward move ahead. It is a sound company fundamentally with profit growth of 43% for last 5years. Currently, trading at low P/E. T1- 270...
Observations from the chart - WTI Crude trading in up trend channel since last 1 month - 20 day EMA crossover above 50 day EMA and 200 day EMA - 50 day EMA crossover above 200 day EMA Based on the observations we feel: WTI Crude to be in positive territory & If channel trade is to continue there seems to be good opportunity to go long for target of 54-55...
NYMEX:CL1! CL Near "D" zone of AB=CD pattern. 161.8% Extension of Fibonacci is @ $ 55+. Watching price action closely for any short trade. Next resistance (If breaks this level) @ $58. First immediate target would be $ 50 (i.e "B" level), If price action says to short.
Breaking of this Chanel may Pave the Way of New Trend..
AVOID BPCL IN NEAR TERM
Stochastic @ overbought level. Now Bearish engulfing candle. Short with stop loss of 10 Points (315). Target first band & second band(285/262). Good Risk Reward ratio.
AB is the Range confirmed by CDEF pivots. E and F are just the push backs as they are not broken yet and hence counts as pivots inside range boundary. However when E or F is broken below are the expected scenarios . Scenario 1 : Acceptance - Orange arrows Break and Acceptance of 'E' will give a Long setup Break and Acceptance of 'F' will give a Short setup...
Chart Advise has been recommending in its advisory for a a CRUDE OIL buy and the view has been fantastic. The steady upward traction seen on the charts since the past few days once again reiterates the point that the prices always speaks ahead of the move. I have found Pitchfork to be quite an important weapon against the trend. It has helped me several times to...
Crude Oil has formed inverted head and shoulders a breakout can be expected above $49.5 T1: $51 T2: $53.5 T3: $55 T4: $57 SL: $47
OIL price action has given a breakdown from short term support at 277, retesting the support level target for 268 and 264 keep stop loss above 284.
Crudeoil has been trading withing a parallel channel. please use this chart as a reference in addition to your analysis.