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CrudeOil Important Levels to watch

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

#Support:6620

Sell below:6620 only on 15 minute candle closure below the level.
Target 1:6560
Target 2:6520

#Resistance:6700
Buy Above:6700 only on 15 minute candle closure Above the level.
Target 1: 6760
Target 2: 6850

#Demand Zone: 6620-6650 may act as a buying zone and price may bounce from the region marked in green on the chart.

#Supply Zone: 6820-6800 may act as a 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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Comment:


As described in the description above. Price bounced back from the demand zone just the way it was planned.
Comment:


Target 1 reached after the breakout from the resistance marked on the chart.

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Trade closed: target reached:

The chart says it all !!
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