MCX Crude Oil Futures MCX:CRUDEOIL1! giving signs of exhaustion after recovering from downfall .
expecting the fresh sell off trend to begin for potential targets zone . As per the Pattern expect the selling pressure to remain below 7800 levels .
Do Comment , share and "LIKE" if you find this info valuable to use .
Happy Hunting ,
Chintamani
Disclaimer....
Hello and welcome to this analysis on MCX Crude Oil.
The overall structure of sideways consolidation now appears to be set for a rally which could break the falling trend line.
Expecting it to bounce back to 8400 as long as it does not break below 7500
Fundamental Development: Oil prices dropped on Monday, extending a recent losing streak on concerns that an expected rise in U.S. interest rates would weaken fuel demand. Brent crude futures for September settlement had fallen 67 cents, or 0.7%, to $102.53 a barrel, down for a fourth day. U.S. West Texas Intermediate (WTI) crude futures for September delivery slid...
My analysis of price action in Gold. Currently in a strong downtrend, sell on rise structure. Have marked some key levels and will review the chart after a few days.
Fundamental Development: Oil prices climbed in Asia trading on Friday, rebounding from previous declines amid supply tightness and geopolitical tensions, even though weakened demand in the United States has cast a shadow on the market this week. Brent crude futures raised $1.61, or 1.6%, to $105.47 a barrel, while U.S. West Texas Intermediate (WTI) crude futures...
FUNDAMENTALS
1) Strong demand from industrial use of electrification of economies.
2) Funds being diverted from stocks to Gold/Silver
3) gold/ Silver ratio near a peak.
4) 40% down from highs and at support of 12 years of consolidation.
Gold fails to extend the post-ECB rebound from yearly low, not to mention unable to extend the bearish channel breakout. Given the metal’s sustained trading below the key SMA and the recently downbeat oscillators, the bullion is likely to remain pressured. Hence, sellers can see the latest bounce as an opportunity until the quote stays below the 100-SMA level...
Gold may bounce from the lower end of the rectangle on if this is saved on closing basis on friday
A good consolidation is required for bulls if they want long term trend to be saved.
Fundamental Development: Oil prices fell on Thursday for a second straight session, as demand concerns outweighed tight global supply after U.S. government data showed tepid gasoline demand during the peak summer driving season. Brent crude futures dropped 77 cents, or 0.7%, to $106.15 a barrel by 0427 GMT after slipping 0.4% in the previous session. U.S. West...
Gold is at a nice place. Take out the lows, while touching the bottom of the parallel channel, and touching the bottom of the descending channel. Send it?
Gold continuously taking support at the trend line
so it is in buy trend till the support breaks.
it turns bearish only if the bottom trend is breached.
Gold slipped to a 1-year low yesterday. The day began at 1711; throughout the day, the price was bounded by the 1706-14 range. The price went below 1700(2) before the day's end, touching the day-low near 1692. The day ended at 1696, down by USD 14.
A new round of selling started after gold finally left the 1700-20(1) range. Expect the price to trade between...
Gold traded in a tight range yesterday. The market opened at 1706 back from the weekend. The price was gradually moving higher during the Asian session and touched the day-high at 1724. However, gold resumed its position below 1710, closing at 1709, and ended slightly up by USD 3.
In the past 48 hours, gold has been trading in a tight range between 1700-20. Can...
Fundamental Development: Oil prices edged down on Wednesday, pressured by global central bank efforts to tame inflation and ahead of expected builds in U.S. crude inventories as product, demand weakens. Brent crude prices for September fell 37 cents, or 0.3%, to $106.98 a barrel, while U.S. West Texas Intermediate (WTI) crude for August slipped 69 cents, or 0.7%,...
