Crudeoil Important Levels to watch !
Updated
CrudeOil important levels to watch are as follows
📍 Support: 6020
📊Sell below: 6020 only on 15 minute candle closure below the level.
📉Target 1: 5970
📉Target 2: 5900
📍 Resistance: 6100
📊 Buy Above: 6100 only on 15 minute candle closure Above the level.
📈Target 1: 6145
📈Target 2: 6200
📈Target 3: 6250
⚡⚡ 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 refer our Indicators published on tradingview if you find it useful give it a like.
⚡⚡ Follow us for more such information, educational ideas and Indicators. Give it a like if you appreciate the idea. Queries will be answered in comment section.
#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.
📍 Support: 6020
📊Sell below: 6020 only on 15 minute candle closure below the level.
📉Target 1: 5970
📉Target 2: 5900
📍 Resistance: 6100
📊 Buy Above: 6100 only on 15 minute candle closure Above the level.
📈Target 1: 6145
📈Target 2: 6200
📈Target 3: 6250
⚡⚡ 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 refer our Indicators published on tradingview if you find it useful give it a like.
⚡⚡ Follow us for more such information, educational ideas and Indicators. Give it a like if you appreciate the idea. Queries will be answered in comment section.
#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.
Note
The stability of crude oil prices is being influenced by the potential impact of Houthi militants' activities in the Red Sea on oil supply. The Houthi attacks and concerns about trade disruptions via the Suez Canal had initially caused oil prices to rise.Note
kindly use the stoploss as per your own risk appetite.
Note
target 1 hit,
time to start trailing the stoploss in order to secure the profits.
Note
high made 6204, Second target hit.
Facing hurdles at given supply zone marked in red box on the chart.
Note
all three targets done on upside after the breakout from resistance.
stay tuned for further levels and updates. Kindly follow us for timely alerts regarding future ideas.
Trade closed: target reached
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.