CRUDE OIL MCX - OCTOBER 2nd Week Plan

Time frame for study - 4 hr

Conclusion -

-- Continuous two Uptrend seen in crude till 7990 level
-- A correction wave of A,B,C seen till 6970 to 7010 levels for B wave
-- For C wave if any support taken near 6970 - 7010 then immediate target can be 7367 with some ups and down

This chart is only for educational purpose. Do your own study before taking any trades.

Comment:

Double top in past supported as a resistance level

Daily Chart

Comment:

May dip till 6750-6800 Levels

Waiting for a reversal confirmation for directional trade

No trading recommendation

Comment:

Expected Move

Comment:

War effect Crude jumped 4% up - 7166

Comment:

Most Likely to go up from this consolidation level

Comment:

Comment:

3 days side ways

Now tunnel expansion on 5 min time frame

Also, Took strong support near 7100

Comment:

Hammer shown in green arrow and had a smooth move

Comment:

Target Open

Comment:

Trade active:

Trade closed: target reached:

Had a high volatility

Made high 7372 on 16th Oct 2023