Crude Oil
Crude oil Buy / Sell Based on Fibo and GannSell crude oil at 2754 stop loss 2782 Target 2676
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Crude oil Buy / Sell Based on Fibo and Gannbuy crudeoil at 2565 stop loss at 2549 Target 2628 / 2654
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Crude Oil Price Setting Up For A Downside Price RotationFirst, let's talk about the previous update of crude oil. There, I have drawn the symmetrical triangle bearish pattern on the hourly chart of MCX's crude oil.
I had written for the day traders, " ...the last expected stop is at E. So, we may see crude oil at/below 2840 – 2820 level ".
THESE TARGETS HAS REACHED.
And for the short-term traders, I had written in bold words, " this symmetrical triangle base range is 378 points. So, the game will begin whenever crude oil will breakout the triangle pattern. Downward breakout’s targets: 2610 – 2500 – 2460 ".
Crude oil has touched the first target ( 2610 ) by making a low of 2606 level on 29 Oct '20. Now let's come to the point, will crude hit the second & last target or not?
CRUDE OIL DOWNSIDE BREAKOUT ALERT!
If crude oil prices break out the 2600 level, we will see 2540 - 2500 - 2460 levels before the weekend.
Please note that don't sell it above the 2600 level.
I have updated significant releases or events that may affect the movement of bullion & the energy sector commodities here:
MCX CRUDE OIL BASED ON US OILPrice action setup og Crude Oil Mcx based on th US OIL
only at the marked point think of an entry
not before that
we need a change in momentum first
MCX Crude Oil Hourly Charts In-Depth AnalysisFOR THE DAY TRADERS:
MCX Crude oil has made a symmetrical triangle pattern, and that indicates a bearish continuation. At present, its price is moving inside the triangle pattern. That's a consolidation area. The prices will keep playing sideways here.
Intraday traders can sell or buy based on control price. The last expected stop is at E. So, we may see crude oil at/below 2840 - 2820 level.
FOR SHORT-TERM INVESTORS:
This symmetrical triangle base range is 378 points. So, the game will begin whenever crude oil will breakout the triangle pattern.
Upper breakout's targets: 3130 - 3200 - 3280+
Downward breakout's targets: 2610 - 2560 - 2460
Beware to tail, fakeout, and excess.
#CRUDEOIL #OIL #MCXCRUDE - set for a wave C downThe upward to sideways moves over the last few weeks seem to have ended with wave Y. If prices trade below 3005, below the diagonal triangle we should be set for a large downmove. This could be a move larger than the one that started in Sep and lead to 2600 levels. Will track as it progresses
Crudeoil in USD has the same pattern and should be headed the same way
crudeones it breaks b point with momentum and stay above that then target is quite big and if couldn't able to cross this line resistance then one can short
Brent Crude Oil - Weekly technical analysis updateMidterm forecast:
While the price is below the resistance 46.50, resumption of downtrend is expected.
We make sure when the support at 38.90 breaks.
If the resistance at 46.50 is broken, the short-term forecast -resumption of downtrend- will be invalid.
Technical analysis:
A trough is formed in daily chart at 38.90 on 10/02/2020, so more gains to resistance(s) 44.15 and maximum to Major Resistance (46.50) is expected.
Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
Relative strength index (RSI) is 53.
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#crude one can long if breakout happen then it can go till above PRZ. anf if find reversal there then one can short from der
Crude Is good for both short and long at support and resistance Crude Is good for both short and long at support and resistance points
