Crude Oil Ascending Triangle pattern formation at 30 mins TFCrude Oil Ascending Triangle pattern formation at 30 mins TF
Crude Oil
crude oil if vaccine successful then crude go up this my view
vaccine successful then crude go up if not success then going down
When MCX Crudeoil touch 4000 levels? - Part IAccording to the daily chart of MCX crude oil, it is further advance for short-term investors. The retracement level of 0.618 is a perfect entry-level.
In the previous update of crude oil, we have recommended buying many times.
As per RSI & MA, it seems bullish. We will see soon target 1 and target 2 price after a short reversal.
But if you want to see a clear trend, we'd see it in a 4 hours chart.
LINK is available in the comment section.
When MCX Crudeoil touch 4000 levels? - Part IICONTINUE: When MCX Crudeoil touch 4000 levels? - Part II
According to the 4H chart of MCX crude oil, it's sharply moving upward. It's safe for intraday & short-term traders to take a position nearby the support trendline or 50 MA for the targets of 3600 - 3660 - 3700 - 3800 .
But what if it breaks the support trendline? DMI is indicating collapse ahead. I will update it soon.
Reason for CrudeOil breakout failure on 21-12-2020Ascending parallel Support channel not yet broken as per 4 hour time frame if we consider S1,S2,S3 wigs as a support channel.
Crude Oil Ascending channel support channel breakout at 4 hr TFCrude Oil Ascending channel support channel breakout at 4 hr TF
Entry - 3490
Stop Loss - 3515
Target 1 - 3470
Target 2 - 3450
Crude Oil Ascending parallel channel at 2 hour TFMarket Analysis - Crude Oil is still inside Ascending parallel channel at 2 hour TF and it's approaching S4 zone
Will Crude oil touch 3648 before 2021?Crudeoil has started an Elliott wave and made the 4th wave, and now it's making a fifth wave. As per the rules of the Elliott wave, the fifth wave will be completed at 61.8% ( 3648 ) or 50% ( 3600 ) of Fibonacci retracement 1+3 .
The 2nd wave is 61.8% of the 1st wave, the 3rd wave is (more than) 261.8% of the 2nd wave, and The 4th wave is 38.2% of the 3rd wave.
After the completion of the fifth wave, there will be the ABC correction. And it would be completed between 3356 and 3216 .
If the trend breaks the 3356 and 3216 both the levels, then the Elliott wave may fail. But if the trend completes the Elliott wave, the trend will again start to rise.
CRUDE ABOVE 3500 CAN GIVE GOOD MOMENTUM CRUDE FORMED DOUBLE BOTTOM AS SHOWN IN CHART, AND RETESTING IT..
LOOKS BULLISH ABOVE 3500 RESISTANCE.
EDUCATIONAL PURPOSE ONLY !
USOIL WTI CRUDE LEVELS FOR MONDAY 7TH DEC 2020Important support and resistance areas for USOIL WTI CRUDEOIL for coming Monday 07th Dec 2020
MCX CRUDE OIL: Massive Rally is coming soonAccording to this chart, crude oil will keep moving forward and hit the following targets: 3600 - 4000 - 4400 - 4800 .
Here value 1 of retracement will react as support. And consecutive breakout of this support is a direct sign of a downtrend. It can be up to 0.886 (2982) to 0.786 (2735). You can use it as a target.
