Crudeoil broken major support levels in daily chart next support levels would be 6333 if sustain at this levels we can see upside move 6900 to 7550 levels if not sestina it may fall till 6000 - 5900 levels just a view for educational purpose only
#crude analysis on weekly time frame:- Looks like we are in Wave C of the correction and we might see #crude get melted off.
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Oil has given the movement as expected in our previous chart
we expect the oil to touch the box I have drawn
from there onwards we start our buying in oil
it can go further down. we are taking a stop loss of 65
but it is impossible to catch a falling market
so we will start buying the movement it touches our zone
MCX - Crude Oil - Swing BUY Setup
After recent sharp fall in crude oil now it seems the market has made short term bottom in US Markets around 85 USD and now it seems it will start the sharp upside again .
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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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The 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...
As updated in the charts we still expect continued downfall in oil before it further shoots up for a new life time high TVC:USOIL .
It’s the right time to stock oil . we recommend buying in it from 86 levels with a stop loss of 64 .
Thank you so much .
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
US OIL CMP 87.45$
Looking at the structure,
it seems crude is ready to complete it corrective phase
Also here A=C in terms of pips
But yet to touch channel bottom...
if we start a new journey
Crude can gradually move towards 125+$
above 95$ , recent low as sl .. and I would be only buying dips
Chart is for study purpose only!!
Poor macros, #Gas prices continue to rise and the risk of rationing and high prices continue to haunt the continent. European gas contract are near to click a fresh all time high. On technical terms we can see multiple descending trendlines pushing the pair down . The fall below parity and quick 3 day short covering pushed #EURUSD to 1.02700. Current trading range...