CrudeOil Important Levels to watch !

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

#Support: 6900

Sell below: 6900 only on 15 minute candle closure below the level.
Target 1: 6800
Target 2: 6680

#Resistance: 7000

Buy Above: only on 15 minute candle closure Above the level.
Target 1: 7065
Target 2: 7180

=> # 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.

CrudeOil took support exactly at the marked level and almost achieved target 1 on the upside. Follow us and get timely updates regarding further price action.

according to concepts of price action price rejected from the supply zone, further the resistance at target 1 is expected to act as a major resistance from now.

crude oil sustains in a negative zone due to concerns about reducing global demand, despite tight supply worries.

one more downward momentum can be expected once day low is taken off.

crude oil and other commodities witnessed a huge upward momentum due to war situation and global cues. However, just look at the chart, even after the war impact crude oil took resistance at the given target level 2 which is also acting as a resistance as explained in the idea description.

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Disclaimer: All the Views are purely for educational purpose.