Crudeoil important levels to watch !

MCX:CRUDEOIL1!   Crude Oil Futures

Crudeoil important levels to watch are as follows

#Support: 6600
Sell below: 6600 only on 15 minute candle closure below the level.
Target 1: 6550
Target 2: 6490

#Resistance: 6675
Buy Above: 6675 only on 15 minute candle closure Above the level.
Target 1: 6730
Target 2: 6790-6810

#Demand Zone: 6600-6630may act as a immediate buying zone, and price may bounce from the region marked in green on the chart.

#Supply Zone: 6815-1790 may act as an immediate selling zone, and price may reject from the region marked in red on the chart.

#Remember each level will act as a support and resistance individually so there is a probability of reversal on either side. Please do your own research before initiating any trade. Always keep stoploss in order to protect your capital.

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Currently crude oil is in demand zone, keep an eye and check if price takes support here, price may move upward towards 6675.

if somehow crude manages to break the demand zone and support, we may witness further downfall.

As described earlier, Price took support at demand zone, bounced back and achieved 6675.

waiting for resistance to break.
rangebound within same levels since 21st August.

heading towards target 1 on downside after break of support.

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The chart says it all !!

both targets achieved on downside after the break of support. Just the way it was planned.

After achieving both targets on downside, crudeOil taking a breather !!

Keep these levels on radar for further price movement and trade using SL.

Further levels to watch.
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