Unveiling Insights from MCX Crude Oil Mini May Contract Expiry

IndexAce Updated   
MCX:CRUDEOILMM2023   Crude Oil Mini Futures
As a derivatives trader and the developer behind MRISKA DTS5, I'm thrilled to share some fascinating insights from the recent expiry of the MCX Crude Oil Mini May futures contract. Let's delve into the observations and what they mean for the world of derivatives trading.

Death Level Signals Potential Breakdown:
During the expiry analysis, MRISKA DTS5 calculated the "Death Level" for June's contract at ₹5742 per barrel. Breaking this level in any upcoming session would indicate a high probability of a breakdown, signaling a continuation of the bearish trend. It's essential to monitor the price action closely for potential trading opportunities.

Safe Level Hints at Potential Breakout:
MRISKA DTS5 also revealed the "Safe Level" for June's contract at ₹5974 per barrel. If the price surpasses this level in any upcoming session, it signifies a high probability of an up-move and breakout. This could potentially mark the end of the existing bearish trend and open doors to substantial demand for Crude Oil.

Market Dynamics: The Closing Price:
On 19th May 2023, the Crude Oil Mini June contract closed at ₹5932 per barrel. This closing price, just below the Safe Level, indicates a delicate balance in the market. Traders should remain vigilant as it may set the tone for the upcoming sessions.

Navigating the Uncertainty:
In this highly volatile market, it's crucial to stay informed and adapt to changing market dynamics. Keeping a close eye on the Death Level and Safe Level can help traders identify potential breakout opportunities and manage risk effectively.

Remember, the world of derivatives trading is ever-evolving, and these observations are valuable tools to navigate the volatility. Stay tuned for more insights and updates as we continue to decode the intricacies of the market.

Disclaimer: The observations provided here are based on historical data and market analysis. It's important to conduct thorough research, consult professionals, and formulate your own trading strategies before making any investment decisions.
Today, the MCX Crude Oil Mini June's future witnessed an exhilarating battle between the bulls and bears. As the trading session unfolded, the bulls showcased their strength and determination by conquering the Safe Level, holding the best bid above ₹5974 per barrel. It was a sight to behold as the market sentiment turned overwhelmingly bullish, paving the way for potential up-moves and breakouts. The bulls displayed their unwavering confidence, suggesting that the existing bearish trend may come to an end, leading to a surge in demand for Crude Oil. It's an exciting time for traders, as they closely monitor these developments and seize the opportunities presented by this dramatic shift in sentiment.


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