MCX Crude Oil Hourly Charts In-Depth Analysis
FOR THE DAY TRADERS:
MCX Crude oil has made a symmetrical triangle pattern, and that indicates a bearish continuation. At present, its price is moving inside the triangle pattern. That's a consolidation area. The prices will keep playing sideways here.
Intraday traders can sell or buy based on control price. The last expected stop is at E. So, we may see crude oil at/below 2840 - 2820 level.
FOR SHORT-TERM INVESTORS:
This symmetrical triangle base range is 378 points. So, the game will begin whenever crude oil will breakout the triangle pattern.
Upper breakout's targets: 3130 - 3200 - 3280+
Downward breakout's targets: 2610 - 2560 - 2460
Beware to tail, fakeout, and excess.
MCX Crude oil has made a symmetrical triangle pattern, and that indicates a bearish continuation. At present, its price is moving inside the triangle pattern. That's a consolidation area. The prices will keep playing sideways here.
Intraday traders can sell or buy based on control price. The last expected stop is at E. So, we may see crude oil at/below 2840 - 2820 level.
FOR SHORT-TERM INVESTORS:
This symmetrical triangle base range is 378 points. So, the game will begin whenever crude oil will breakout the triangle pattern.
Upper breakout's targets: 3130 - 3200 - 3280+
Downward breakout's targets: 2610 - 2560 - 2460
Beware to tail, fakeout, and excess.
Comment:
Crude oil has made a low of 2841. It's 1 point away from the first target.
