CrudeOil Important levels to watch !!
Updated
Crudeoil important levels to keep an eye on according to hourly timeframe are as follows;
#Cmp= 6150
#Support= 6020
the region of 6040 to 6020 is acting as a demand zone which means price may bounce back from the region as majority of buying positions can be expected in the demand zone.
expected targets on downside after the break of support
Target 1: 5910
Target 2: 5820
#Resistance= 6190-6200
Currently the price is below the trendline resistance marked in red which means price may face some rejection at the trendline.
Expected target on the upside after the break of resistance
target: 6314
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#Cmp= 6150
#Support= 6020
the region of 6040 to 6020 is acting as a demand zone which means price may bounce back from the region as majority of buying positions can be expected in the demand zone.
expected targets on downside after the break of support
Target 1: 5910
Target 2: 5820
#Resistance= 6190-6200
Currently the price is below the trendline resistance marked in red which means price may face some rejection at the trendline.
Expected target on the upside after the break of resistance
target: 6314
Follow us to get timely updates of such insightful ideas. Give it a like if you appreciate the idea.
queries will be answered in comment section.
Note
.Note
as predicted earlier, Crude oil broken out from the resistance and achieved target marked on the chart.
Trade closed: target reached
target achieved !!
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