CrudeOil Important levels to watch!
Updated
Crudeoil important levels to watch are as follows
#Support: 6600
Sell below: 6600 only on 15 minute candle closure below the level.
Target 1: 6570
Target 2: 6520
#Resistance: 6675
Buy Above: 6675 only on 15 minute candle closure Above the level.
Target 1: 6740
Target 2: 6860
#Demand Zone: 6600-6620 may act as a immediate buying zone, and price may bounce from the region marked in green on the chart.
#Supply Zone: 6740-6770 may act as an immediate 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.
#Support: 6600
Sell below: 6600 only on 15 minute candle closure below the level.
Target 1: 6570
Target 2: 6520
#Resistance: 6675
Buy Above: 6675 only on 15 minute candle closure Above the level.
Target 1: 6740
Target 2: 6860
#Demand Zone: 6600-6620 may act as a immediate buying zone, and price may bounce from the region marked in green on the chart.
#Supply Zone: 6740-6770 may act as an immediate 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.
- Follow us for more such information and educational ideas. Give it a like if you appreciate the idea. Queries will be answered in comment section.
Note
Note
Breakout, Retest and Boom !!
Trail your SL as per your risk appetite from now onwards.
Also, Dont forget to follow us for more such ideas.
Note
Approaching target 1
Note
Crude Oil is at crucial level now!
Previous resistance 6675 may act as a support which is marked in green line. Also, Formation of head & shoulders kind of pattern can be seen on 15 min time frame, and its neckline support is exactly at previous resistance. or current support.
Breakdown from which may drag crude prices towards green dashed lines that is 6640-6600 and if took support again at 6675 further upside towards red dashed line that is 6730-6760.
so be cautious and trade accordingly. Follow us if you like the idea.
Note
just the way it was planned !!
Note
well, again at the demand zone, Will it bounce back upward or will it be able to break it now ??
What is your view this time, let me know in the comment section.
Note
The chart says it all
Note
perfectly trading within demand and supply since last 3 days.Note
Note
.Note
gap up opening, Long positions towards target 2 and further upwards can be initiated above day High on confirmation.
Note
After achieving both targets on upside price has come down towards the support. Fresh levels have been updated in Fresh Idea. Follow us for more such information Daily.
Note
Fresh levels based on fresh support and resistance levels. Please follow and kindly read new idea description too.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.