InvestyourAsset

CrudeOil Important Levels to watch !

MCX:CRUDEOIL1!   Crude Oil Futures
CrudeOil important levels to watch are as follows

#Support: 7460

Sell below: 7460 only on 15 minute candle closure below the level.
Target 1: 7420
Target 2: 7360


#Resistance: 7570

Buy Above: 7522 for scalping and buy above 7570 for directional trade only on 15 minute candle closure Above the level.
Target 1: 7650
Target 2: 7760



#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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#Disclaimer: This is just a view and published here only for educational purpose, this should not be considered as a buy or sell signal. Trading in stock market may involve financial risk therefore, do your own research before taking any position.
Comment:
Price is more likely to consolidate between a small range.
Comment:

Again bounced back exactly from the marked demand Zone.
Comment:
we can expect a major movement only if crude prices managed to break either Demand Zone or Supply Zone.
Comment:


Target 1 achieved after break of demand zone and the trendline support.
7420 May also act as a support, further downward momentum need to break and close below 7420.
Comment:

Price took support at mentioned level and bounced back upwards.
Comment:

Price is at trendline resistance, stay Focussed. We may expect further upward momentum upon breakout.
Comment:
weak opening !
Comment:
Resistance breakout, expected upward movement kindly use strict SL.
Comment:
The previous resistance may act as a support, agressive short positions should be avoided as long as price is trading above 7570.

Long position holders should keep the SL slightly below 7570.


Disclaimer: This is just a view and should be considered only for educational purpose.
Comment:
Comment:


Target 1 on upside achieved successfully after break of resistance. Told you not to short agressively.

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Comment:

The chart Says it all !! CrudeOil Performed Just the way as it was planned.

Both targets achieved on downside after break of support,

Later, both targets on upside successfully achieved after break of resistance today.
Trade closed: target reached:
All the targets achieved just as planned.

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Disclaimer: All the Views are purely for educational purpose.