NumroTrader

Crude Oil Weekly Technical Chart Analysis 22-26 April

MCX:CRUDEOIL1!   Crude Oil Futures

πŸ“Š Crude Oil MCX 20 May Future Technical Chart Weekly Analysis

🎯 Range Point: 6981
🎯 Weekly Range: 374

πŸ“‰ Buy Above: 7049
πŸ“‰ Average At: 7005
🎯 Buy Targets 1: 7212
🎯 Buy Targets 2: 7355
πŸ›‘ Buyer Stoploss: 6924

πŸ“‰ Sale Below: 6961
🎯 Sale Targets 1: 6750
🎯 Sale Targets 2: 6607
πŸ›‘ Seller Stoploss: 7086

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Crude Oil MCX 20 May Future Weekly Technical Analysis

Traders eyeing the Crude Oil MCX 20 May Future should prepare for a dynamic week ahead, marked by clear levels and a defined weekly range.

Key Levels:

Range Point: 6981
Weekly Range: 374 points
Buy Scenario:

Traders seeking long positions should monitor the market closely for a breakout above 7049. An entry at 7005 could provide a solid average position. Ambitious targets for buyers are set at 7212 and 7355, indicating potential bullish momentum. To mitigate downside risk, a prudent stop-loss is advised at 6924.

Sell Scenario:

Alternatively, a drop below 6961 may present opportunities for short positions. Sellers targeting 6750 and 6607 should remain vigilant. Implementing effective risk management strategies is essential, with a stop-loss set at 7086 to limit potential losses.

As traders navigate the Crude Oil MCX 20 May Future, a comprehensive understanding of these levels and disciplined risk management practices will be critical for capitalizing on potential opportunities while managing risks effectively.

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