CrudeOil Important levels to watch !!

Jul 11, 2023

Crudeoil important levels to keep an eye on according to hourly timeframe are as follows;

#Cmp= 6150

#Support= 6020
the region of 6040 to 6020 is acting as a demand zone which means price may bounce back from the region as majority of buying positions can be expected in the demand zone.

expected targets on downside after the break of support
Target 1: 5910
Target 2: 5820

#Resistance= 6190-6200
Currently the price is below the trendline resistance marked in red which means price may face some rejection at the trendline.

Expected target on the upside after the break of resistance
target: 6314


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Jul 12, 2023

Note

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Jul 14, 2023

Note

as predicted earlier, Crude oil broken out from the resistance and achieved target marked on the chart.

Jul 14, 2023

Trade closed: target reached

target achieved !!