CrudeOil Important levels to watch !
Updated
CrudeOil important levels to watch are as follows
#Support: 6830
Sell below: 6830 only on 15 minute candle closure below the level.
Target 1: 6760
Target 2: 6700
Target 2: 6650
#Resistance: 6950
Buy Above: 6950 only on 15 minute candle closure Above the level.
Target 1: 7030
Target 2: 7130
=> # 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.
=> #If you are Unable to trade properly and dissatisfied with your manual trading results due to psychological disadvantages or busy schedule or "Fear & Greed" emotions, then Algorithmic trading can be the most useful solution to overcome such problems. Kindly follow us and join us using details mentioned below the idea.
=> # Please refer our swing based support and resistance indicator if you find it useful give it a like.
=> # Follow us for more such information and educational ideas and Indicators. Give it a like if you appreciate the idea. Queries will be answered in comment section.
#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.
#Support: 6830
Sell below: 6830 only on 15 minute candle closure below the level.
Target 1: 6760
Target 2: 6700
Target 2: 6650
#Resistance: 6950
Buy Above: 6950 only on 15 minute candle closure Above the level.
Target 1: 7030
Target 2: 7130
=> # 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.
=> #If you are Unable to trade properly and dissatisfied with your manual trading results due to psychological disadvantages or busy schedule or "Fear & Greed" emotions, then Algorithmic trading can be the most useful solution to overcome such problems. Kindly follow us and join us using details mentioned below the idea.
=> # Please refer our swing based support and resistance indicator if you find it useful give it a like.
=> # Follow us for more such information and educational ideas and Indicators. Give it a like if you appreciate the idea. Queries will be answered in comment section.
#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.
Note
crude prices facing hurdle as prices are currently trading in a supply zone marked on the chart.
Note
crudeoil currently consolidating at supply zone, However, Crudeoil Inventory data is out now.
Crudeoil inventory:
Previously available: 1.371 M
Forecast: 1.261 M
Currently Available: 0.774 M
As per the data, inventories are lesser than expected and previously available. Which means, there will be less supply and therefore, demand will increase
Over the time when demand increases oil prices will increase too !
Note
crudeoil target1 reached on downside.
Note
CrudeOil took Support after achieving target 2 on downside.
After taking the support, oil prices are trading in a bearish rising wedge pattern.
however, any short entry is possible only after breakdown confirmation, Trade accordingly.
Note
again hurdle at supply zone. wait patiently and act only on confirmation.
Note
crude prices struggling to break the supply zone!
wait for 15 mins candle closure above supply zone for long entry. Do not forget to use the stoploss in order to protect your capital.
Note
Again, sharp rejection !! Just because of this strong supply zone !!
Note
crudeoil at 6700 again ! an interesting level !!
Note
.Note
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