InvestyourAsset

CrudeOil Important levels to watch !!

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

#Support: 7025

Sell below: 7025 only on 15 minute candle closure below the level.
Target 1: 6960
Target 2: 6860



#Resistance: 7130

Buy Above: 7130 only on 15 minute candle closure Above the level.
Target 1: 7200
Target 2: 7290-7300




=> # Remember each level will act as a support and resistance individually so there is a probability of reversal and a pullback on either side so its better to make an habit to book profits at each targets and re-enter again after a breakout from the same with a proper stoploss as per your own risk appetite.

=> # Please do your own research before initiating any trade. Always use 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:


crudeoil achieved target 1 on downside after break of support.
Comment:


crudeoil gapup opening after yesterdays negative session.
if crudeOil manages to break and sustain above 7045, then the price may show further positive movement.
Comment:


Crudeoil again in the range of demand zone.
Comment:

demand and supply zones performing perfectly well as you can see...price is getting rejected multiple times exactly from our marked supply zone.

as well as price is getting bounced back exactly from our demand zone marked on the chart.


breakout on either side is necessary for further price action, meanwhile keep scalping between demand and supply.
Comment:

crudeOil current expectations as per 3 min timeframe. enter only on breakout confirmation i.e 3 min candle closing out side the triangle.
Comment:
above pattern negated
Comment:
.
Comment:


Again !! price rejected sharply from the supply zone despite strong upmove in previous session.
Trade closed: target reached

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Disclaimer: All the Views are purely for educational purpose.