US oil has broken its major downtrend line and is managing to test and sustain above the supports , is buy on every dips untill it stays above 70$ levels , keep SL very small at 60$ , any monthly candle closing below 70$ is an exit from trade , RR looking great and potential reward on the upside is very high
Expecting to create accumulation cycle and is going to break up to weekly distribution trend on the bottom side weekly trend was hit and held. Long term daily downtrend is distributing. Now weekly uptrend is held and trying to create long term accumulation cycle. Long term target might be 91. But we might once again retest 77 price level which 85 level can hold...
Brent is at H&S breakdown at 83.97 Wait for confimation drop below 83.50 and volume spike Target 79 Please do your own research before investing.
Im shorting Crude with a strict SL of 80 (DCB)... Possible positional targets of 55...
I have observed double top patterned is formed in daily chart. I have also drawn regression line into it. Based on both technical analysis, short term move upto USD 89 per barrel can be expected. This move is for short term. We can expect fall within 1-2 days.
Brent Crude can test USD 118 per barrel in the medium term to long term perspective and at the maximum resistance is seen at USD 183 per barrel.
Gann fan analysis for Crude. We are in a sort of neutral zone with resistance at 85 and support at 79.6. If 85 is crosses, we will see a good upmove. If support breaks and Gann fan level breaks too, we can see a deep fall as seen in history and marked on the chart.
Check 'CRUDE OIL at important juncture - 87, watch for Oil companies ' where i have explained the logic of these trades in details. Sustaining above 87 will mean break of important resistance, change in structure. Buyers are wiling to buy higher, enter with them. 1. BUY if it sustains above 87. Target 115.
Crude oil is at an important juncture. 1. Around 87 which is an important resistance. 2. Should move down quickly to 46 levels. 3. If we have slower fall that will mean re attempt of 87 and possible long. Exit shorts. Possible trades should be taken in daily time frame- 1. SHORT - as swing high break fails in daily. 2. BUY - when it sustains above 87 for...
on weekly chart crude is making lower lows and lower highs. now with resistance of 86 $ i may fall back . -- RSI is also showing -ve divergence.
At present Crude Oil on MCX is trading around 6210 with a day low of ₹ 6197 and made a high of ₹ 6244. Crude oil remained under pressure this week globally. If we talk on technical side, Crude Oil was running in a fixed channel since Septmber 2021, but on October 27th 2021, it closed below support line and yesterday on 28th Oct, it opened at 6180 with a gap...
The same chart is on the 4Hour chart beside this post.
Buy above 45 Target -1 - 58 Target -2 - 70
Trading suggestion: . There is still a possibility of temporary retracement to suggested resistance line (42.80). if so, traders can set orders based on Price Action and expect to reach short-term targets. Technical analysis: . Brent is in a range bound and the beginning of downtrend is expected. .The price is above the 21-Day WEMA which acts as a dynamic...
Technically a quick move towards 40 & resistance is seen around 47
# Technically Crude is at Long Term Lower Support Line # Magnet is in very favorable position for a Big Move # Time Frame for $ 20 to $ 40 is 6 Weeks # Weekly Charts have Positive Crossover of MA for Long Term UP move. # OBV on Daily charts have Positive Divergence
BRENT CRUDE LONG ENTRY 61.38, STOP-LOSS 59 , TARGET PRICE 66.70. NOTE : CONSULT WITH YOUR TRADING ADVISER BEFORE TAKING ANY TRADING DECISION.