InvestyourAsset

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.
Comment:
Comment:


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.
Comment:


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.
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crude oil sustains in a negative zone due to concerns about reducing global demand, despite tight supply worries.
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one more downward momentum can be expected once day low is taken off.
Comment:


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.
Comment:

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Disclaimer: All the Views are purely for educational purpose.