TREND ANALYSIS
Follow Chart Instruction.
Do not be Hurry for entry.
Wait for Proper Entry Setup.
Buy/Sell with Best Risk Reward.
Educational Chart Only.
You can Comment and ask the TREND ANALYSIS of any STOCK/SCRIPT/INDEX/FOREX.
Wait for 2nd entry setup, if available then short.
R:R is 8 to 15 times.
TREND ANALYSIS
Trade Setup
Follow Chart Instruction.
Do not be Hurry for entry.
Wait for Proper Entry Setup.
Buy/Sell with Best Risk Reward.
Educational Chart Only.
You can Comment and ask the TREND ANALYSIS of any STOCK/SCRIPT/INDEX/FOREX.
R:R is 1:10++
MCX Crude Oil For Indian Commodity Market.
So be Caution On long buildup in Crude Oil.
Crude oil 4h technical-looking weak. Bear pennant on the price itself and a rising wedge on 4h RSI both combination suggests a strong bearish sentiment. upcoming week we can witness so many stupid repeated news like economic slowdown, trump - china, Iran war, trade war,. and so many never-ending shits. so, technically we have to gauge the price where it's heading...
Touched the upper range of triangle as per chart , not showing strength , making an inverted hammer right on trendline resistance , expecting good downfall .
scenarios.
1. we got an H&S and it's brokeout too
2. a pennant that looks like it broke out too.
3. there's a double top
4. there's a 50% fib level retracement
5. overall retail market views is bearish.
price 51.73 and 60.70 is an either side negotiable deal.
conclusion: views is bearish technical is bullish. waiting for a strong breakout to either side so...
On technical hand, Crude oil has formed a XABCD pattern, which gives strong trend reversal signal.
The target would be as follows (shown by green dotted lines):
T1: 55.29
T2: 53.62
T3: 52.93
T4: 51.73
Stop loss (shown by red dotted line): 56.67
On a daily time frame frame as well, crude oil has a pennant formation, which can break at a downside.
I'm seeing an inverse hidden H&S and a pennant or falling wedge type pattern and they both are bullish. interesting to see if it does work out.. I'll keep it watching closely.
Reason and confluences:
this graph is experimental.
CrudeOil Analysis based on trend analysis.
Trend
After the fall from the level of 59, seems to have some bounce from the low level of 51. Now the trend is not bullish nor strong bearish based on the current level of holding.
Analysis
On my analysis, may have good entry at the lower level of 54 with the SL of 52.50 and the target of 56 to 56.50 level. But if...
price gap between 54 and 51 is crucial.. reversal may happen and if double bottom rejects then strong bearish till 42.
keeping in mind Crude oil dropping from 60.70 and the previews H&S has been completed.
This website uses cookies to ensure you get the best experience on our website. To learn more about cookies, including how to control cookies, please read our Cookies Policy.
