InvestyourAsset

CrudeOil important Levels to watch !

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

#Support: 7045

Sell below: 7045 only on 15 minute candle closure below the level.
Target 1: 6930
Target 2: 6750



#Resistance: 7204

Buy Above: 7204 only on 15 minute candle closure Above the level.
Target 1: 7300
Target 2: 7460



=> # 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:

Breakdown from the support and we all can now witness a huge downward momentum exactly from the given support level, Just the way it was planned !!
Comment:


price touched exactly at the marked level of target 1 and bounced back. read idea description for better understanding, its clearly mentioned that each target can also act as a support or resistance. In this case Target 1 acted as a support, just the way it was planned !
Comment:
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Comment:

crude 7237 is acting as a major resistance as of now as price rejected for more than once exactly from the level,
Comment:
for further upward rally, price need to breakout and sustain above 7237
Comment:


focus now !
Comment:

Breakout- Retest and ready for further rally !!
Comment:

target 1 on upside achieved after breakout from the recent resistance as described in the previous snapshot of this idea.
Trade closed: target reached

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Disclaimer: All the Views are purely for educational purpose.