We had posted earlier chart and went short at $55 on retest of flag for targets of $49.5 and $43. Refer below chart from history Now One can go long into it with SL below $40. You can take entry at $41.8-42.5. On close below $41, next long chance would be at $36. Dont miss this long trade if opportunity arises.
As per chart Brent crude can side further. On 4 hour chart it is trading and forming triangle like pattern. Our expectation is that can slide till 58.70. Momentum Indicator RSI trade side ways around mid level of 50. Price action wise larger bearish candle can also suggest traders involvement going downside.
Its been quite a while, we are watching crudeoil's decline, after an energetic run which stopped around 77. prices are juggling between 50and 54 since quite long, 52.20 area always ensured enough supply which in my opinion is a demand zone now. I would suggest going long for 55 with placing SL at 51.90.
Trade only with other confirmations and also OPEC meting results may bring chage in the direction as well, so trade with caustion.
crudeoil important factor for india and is going in the country's side will appreciate Indian currency and a lottt more !
First signs of rejection from a LVN, a break above 51.40 levels has legs to take it upto 52.75 zones
Crudeoil has produced textbook break and retest of bearish flag. We can short it with today's high as SL for Targets of $51-49. It will be long if breaks today's high and enters back into the flag.
Crude WTI should cool down to $64 before starting yet another leg.
Here's #USOIL #CRUDEOIL #monthly #chart posted earlier. It has now broken the lower #trendline thats $20 ride from $76. We are expecting it to respect the $54-55 band. it might bounce back from here. This level is 61% fibo of previous swing, retest of previous swing high. #monthly close below it will take it to $45/$33, for now $54-55 band important.
CRUDE OIL IF HOLDS 58.20$ ON CLOSING BASIS CAN HEAD TO THE UPPER END OF THE BOX NEAR 63$
Crude Oil was making higher highs and higher lows since February 2016, and finally broke the monthly resistance in December 2017 at $60. Since then it was topsy turvy ride towards high of $76.9. That bullish nature is still intact. It seems to us that it will again retest levels of $60.8-62 before starting another uptrend for levels of $85/$94. We are carrying our...
Crude Oil (USOIL) hourly chart study
SWING TRADE IN HINDPETRO NOVEMBER FUTURES BUY@214.5 STOP@205 TARGET@228.5 LOT:1575 QTY:1 CLOSE ABOVE 220 WILL LEAD US TO BIG TARGETS
Buy USOIL at cmp (71.30+) T1: 73.00 T2: 74.50 T3: 76.80 SL: 69.90
Buy USOIL at CMP (73.70+) T1: 76.85 T2: 78.35 T3: 79.10 SL: 72
BRENT CRUDE LIKELY TO HIT USD 29 LEVELS