CRUDEOIL - 11 December 2023

Dec 11, 2023

1. Crude oil has fallen badly for a few days.
   
2. Based on demand and supply - marked dot-to-dot levels
   
3. Today crude has been bullish
   
4. A morning star pattern has been formed, and there is confirmation
   
5. Entered during fib retracement.
   
6. I'll be trailing at 5980 and SL at 5910.
   
7. Current level 5940 is crucial, and we can expect a good up move if bullishness continues.
   

NOTE: This is a contrary trade with a significant risk. This is not a tip but my view of crude.

Dec 11, 2023

Trade active

Dec 11, 2023

Note

Added a few more longs.

Dec 11, 2023

Note

An uptrend angle of 22 deg is formed. 5960 is an important level that has to be broken

Dec 11, 2023

Note

If my analysis is right, 5960 will be broken anytime soon

Dec 11, 2023

Note

Trailing SL to 5920. Higher lows formation is being witnessed

Dec 11, 2023

Trade closed: stop reached

Dec 12, 2023

Note

View might be correct but it is important to accept the stop loss