Crudeoil!
MCX- CRUDE OIL - 15 min SellMCX 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 .
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Happy Hunting ,
Chintamani
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I am not SEBI registered analyst.
My studies are for educational & General purpose only.
Please Consult your financial advisor if you have plans of trading or investing.
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MCX- CRUDE OIL - Chart AnalysisMCX:CRUDEOIL1!
MCX : CRUDE OIL FUTURES (Trade Setup on Hourly Charts)
A Buy Setup is emerging for Long Trades with suggested Stop loss levels on chart . Interested members can look into it or analyse the trend as it unfolds . Not a recommendation to buy/sell .
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Happy Hunting ,
Chintamani.
USOIL CRUDE OIL US oil overall trend is still bearish, but counter trend pull back rally is now due, not only due but it's now ready to go towards north directions
Buy on Dips is suggested, all the key levels are mentioned on chart
Overall running wave structure
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Disclaimer.
I am not sebi registered analyst.
My studies are for educational purpose only.
Please Consult your financial advisor before trading or investing.
I am not responsible for any kinds of your profits and your losses.
CRUDEOIL(USOIL) Intraday Levels 11-15-Jul-22(Weekly)Try to find best entry levels for based on market struture and pa.
Important levels Marked in chart, wait to price reach that levels and check for rejection
from upside/downside in smaller time frames then only take trade.
Can comment or ping me for any query.
All views for Educational purpose, Trade at your own risk
Crude oil weekly analysis After a 2020 crude oil recovered and makes new all time high of 9996. Crude oil completed it's 5 wave impulse move in the month of march and from that time it's making a correction. As per current price action crude making a expanded c wave flat correction. Crude can go up to 6000 or may be lower than that but major strong support will be 5000.
Big Fall in CrudeOilThe markets are falling down because of increased fear of recession. Recession affects everything, be it stocks or commodities like CRUDEOIL, NATURALGAS, SILVER, GOLD etc.
Energy sector fell drastically yesterday. Crude Oil fell about 11% whereas Natural Gas fell about 6%.
Crude Oil has a strong supply zone around 9300 according to the monthly timeframe from where it fell down.
In last month it tried to break the supply zone but it failed. It is clearly visible on weekly timeframe that it couldn't break the supply zone.
On the Daily timeframe we can see the formation of Head and Shoulder pattern from which it has broken down the neckline yesterday. Right shoulder was made from the strong resistance at 8850 from where it got rejected twice.
It is also forming a downward moving channel.
On 4 hour timeframe it has broken down the support with good amount of volume.
Today it is moving in lower part of the channel and I think the closing of the candle will be below 8100.
The MACD and RSI have turned bearish on multiple time frames. If the price of USOIL sustains below $100, we can see further down move in the coming weeks or months.
Disclaimer: This post is meant for learning purposes only. Invest your capital at your own risk.