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Crude Oil

ICOMDEX & MCX CRUDEOIL – Bigger Picture AnalysisICOMDEX CRUDE OIL Timeframe: Monthly It is the ICOMDEX monthly timeframe chart where the price has started a new impulsive cycle from the low of 1270. The price has broken out 20 & 50 Exponential moving averages. RSI is snowing bullish momentum with a 56.97 level. Wave formation and Fibonacci relationships: Wave (2) retraced 38.2% of wave (1). Wave (3) is a power-extended wave with 3.618% Fibonacci extension. Wave (2) is trading above the starting point of wave (1) Wave (4) retraced 61.8% of wave (3). Wave (4) hasn’t entered the price territory of wave (1) and has formed a complex correction of W-X-Y. Crude oil has accomplished the complex correction and marked evidence by breaking the descending channel of the corrective structure. According to the Elliott wave principle, an impulsive cycle can only be confirmed by breaking out the sub-wave X of the previous correction. If the price breaks out wave X, traders can see the following levels: 10550 – 11500 – 12744+ . Not having confirmation will be the confirmation of the continuation of the corrective phase. MCX CRUDE OIL Timeframe: Weekly As we can see on the above chart, we are getting a similar structure, and mainly the confirmation. ICOMDEX & MCX CRUDE OIL can be a comrade to confirm each other, just like we used to compare Dow Jones with other indices. If the price breaks out 7657 , traders can trade crude oil for the following targets: 8200 – 8950 – 9950+ . We still need to look at the lower timeframe to connect the worm’s-eye view(Micro picture) with the given eagle view.
M
by forextidings
5
CrudeOil important Levels to watch !CrudeOil important levels to watch are as follows #Support: 7045 Sell below: 7045 only on 15 minute candle closure below the level. Target 1: 6930 Target 2: 6750 #Resistance: 7204 Buy Above: 7204 only on 15 minute candle closure Above the level. Target 1: 7300 Target 2: 7460 => # Remember each level will act as a support and resistance individually so there is a probability of reversal and a pullback on either side so its better to make an habit to book profits at each targets and re-enter again after a breakout from the same with a proper stoploss as per your own risk appetite. => # Please do your own research before initiating any trade. Always use stoploss in order to protect your capital. => #If you are Unable to trade properly and dissatisfied with your manual trading results due to psychological disadvantages or busy schedule or "Fear & Greed" emotions, then Algorithmic trading can be the most useful solution to overcome such problems. Kindly follow us and join us using details mentioned below the idea. => # Please refer our swing based support and resistance indicator if you find it useful give it a like. => # Follow us for more such information and educational ideas and Indicators. Give it a like if you appreciate the idea. Queries will be answered in comment section. #Disclaimer: This is just a view and published here only for educational purpose, this should not be considered as a buy or sell signal. Trading in stock market may involve financial risk therefore, do your own research before taking any position.
MCX:CRUDEOIL1!
by InvestyourAsset
9th Oct ’23 - Israel's War changes sentiment - PostMortem NiftyNifty Analysis Recap from yesterday: “For Monday, I wish to continue my neutral stance but keep my options open for bullish moves. The moment 19776 is tested and broken — we can expect further participation to take Nifty much ahead. For the bears to make a comeback — the US markets have to close in DEEP RED today.” Nifty opened mega gap-down due to the shocking developments over the weekend. Israel declared it is in a state of war after Hamas fired rockets and took hostage Israeli citizens - source. No one was expecting this sharp reversal in global macro. In fact, US markets closed last Friday pretty strong. Since I am not a Geo-political expert - I have no comments on what will happen, but the financial markets usually do not like uncertainty. The greatest risk right now is crude oil as the war is in the Middle East. If other countries join this battle - the risk of further escalation cannot be ruled out and the biggest victim could be the developing countries that import OIL. Even though the chart may confuse you, we only fell 0.86% ~ 168pts in the opening 10mts and that was the low for the day. The recovery was sharp and decent and we made it up to the 61.8% retracement level. From there we started falling but gradually. There again the low set in the initial 10mts still untouched. I had to go short today - not just because the chart told me, but because I thought fundamentally the perceived risk could be much higher. Already our markets have outperformed the global peers - and this risk-on should have prompted the FIIs to pull out more money. We might have to wait for a few days for more clarity to emerge, so I thought to take some risks with some long PUT options. The 1hr chart does not show a direction yet. If 19446 was taken out today - it would have shown bearishness - but it is neutral. For true bearishness 19350 or the recent swing low has to be taken out tomorrow. Well, I have a bearish bias because of the LONG PUT option - but the charts are not showing anything so far. If we bounce back from the 19446 level tomorrow also - I may be forced to close out the position at a loss. For tomorrow I would like to go with a 50% neutral and 50% bearish option. Nifty is not technically weak - it is the global macro that is weak. In the battle for technical analysis versus fundamental analysis - fundamental always wins especially when accompanied by strong news-flow.
NSE:NIFTYShort
by viswaram
CrudeOil Important Levels to watch ! CrudeOil important levels to watch are as follows #Support: 6900 Sell below: 6900 only on 15 minute candle closure below the level. Target 1: 6800 Target 2: 6680 #Resistance: 7000 Buy Above: only on 15 minute candle closure Above the level. Target 1: 7065 Target 2: 7180 => # Remember each level will act as a support and resistance individually so there is a probability of reversal and a pullback on either side so its better to make an habit to book profits at each targets and re-enter again after a breakout from the same with a proper stoploss as per your own risk appetite. => # Please do your own research before initiating any trade. Always use stoploss in order to protect your capital. => #If you are Unable to trade properly and dissatisfied with your manual trading results due to psychological disadvantages or busy schedule or "Fear & Greed" emotions, then Algorithmic trading can be the most useful solution to overcome such problems. Kindly follow us and join us using details mentioned below the idea. => # Please refer our swing based support and resistance indicator if you find it useful give it a like. => # Follow us for more such information and educational ideas and Indicators. Give it a like if you appreciate the idea. Queries will be answered in comment section. #Disclaimer: This is just a view and published here only for educational purpose, this should not be considered as a buy or sell signal. Trading in stock market may involve financial risk therefore, do your own research before taking any position.
MCX:CRUDEOIL1!
by InvestyourAsset
crude oil new update (previously even after the breakout we avoided to o=go long) the recent pullback is the reaction of higher time frame inducement where price made a imbalance and didnt retest the resistance zone so there 7195 - 7065 will act as short term support and it is also a fair value area from higher time frame either price will retest this zone and then head towards 8000-8300 level price tried to retest the zone twice but couldnt mitigated the area still the area hold major buying interest because it has created a liqudity of new fresh long stop losses underneath THIS IS JUST ANALYSIS, YET NO CLEAR PICTURE TO INITATE A TRADE
MCX:CRUDEOIL1!
by Jimmy_Rebello
Crude Oil Analysis Decoded, A Learning JourneyHello Friends Here we had shared Educational purpose case study of US Oil (Crude Oil) Technical Analysis, A Low-Risk, High-Reward Opportunity. Welcome to this educational analysis of US Crude Oil (commonly known as Crude Oil). Today, we're exploring an intriguing opportunity in the world of technical analysis. In the realm of wave analysis, we've identified an exciting prospect in the Crude Oil market. Let's break it down: We've recently completed "wave 4," a significant corrective wave. Now, it appears we're at the beginning of "wave 5," the final leg of the sequence. The Potential So, what's the potential here? Blue wave 5 has the characteristics of being an impulse wave, known for its strong and sustained price movement. In this case, we anticipate it could surpass the top of wave 3, which was at $94.99. Risk-Reward Analysis Now, let's talk about risk and reward. Here's where it gets interesting: Risk We've set an invalidation level at $87, which means if the price drops below this point, it suggests our analysis might not be on track. Reward If wave 5 plays out as expected, it has the potential to lead to significant price gains. Characteristics of Wave 5 What makes wave 5 special? It's typically marked by strong momentum, often accompanied by increased trading volumes. Traders often find this phase exhilarating, as it can lead to substantial profits. Risk-Reward Ratios When considering this opportunity, the risk-reward ratio is a critical factor. The risk, as mentioned, is if the price falls below $87, which is our invalidation point. The reward potential is significant, with the possibility of surpassing $94.99, presenting an attractive risk-reward profile. Conclusion In conclusion, we've identified a low-risk, high-reward opportunity in the Crude Oil market, characterized by the unfolding wave 5. Remember, this analysis is for educational purposes only and should not be considered financial advice. 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. Most investors treat trading as a hobby because they have a full-time job doing something else. However, If you treat trading like a business, it will pay you like a business. If you treat like a hobby, hobbies don't pay, they cost you...! Hope this post is helpful to community Thanks RK💕 Disclaimer and Risk Warning. The analysis and discussion provided on in.tradingview.com is intended for educational purposes only and should not be relied upon for trading decisions. RK_Charts is not an investment adviser and the information provided here should not be taken as professional investment advice. Before buying or selling any investments, securities, or precious metals, it is recommended that you conduct your own due diligence. RK_Charts does not share in your profits and will not take responsibility for any losses you may incur. So Please Consult your financial advisor before trading or investing.
TVC:USOILLong
by RK_Chaarts
3
CrudeOil Important Levels to watch !CrudeOil important levels to watch are as follows #Support: 7460 Sell below: 7460 only on 15 minute candle closure below the level. Target 1: 7420 Target 2: 7360 #Resistance: 7570 Buy Above: 7522 for scalping and buy above 7570 for directional trade only on 15 minute candle closure Above the level. Target 1: 7650 Target 2: 7760 #Remember each level will act as a support and resistance individually so there is a probability of reversal on either side. Please do your own research before initiating any trade. Always keep stoploss in order to protect your capital. Follow us for more such information and educational ideas. Give it a like if you appreciate the idea. Queries will be answered in comment section. #If you are Unable to trade properly and dissatisfied with your manual trading results due to busy schedule or "Fear & Greed" emotions Algorithmic trading can be the most useful solution kindly follow us and join us using details mentioned below the idea. #Disclaimer: This is just a view and published here only for educational purpose, this should not be considered as a buy or sell signal. Trading in stock market may involve financial risk therefore, do your own research before taking any position.
MCX:CRUDEOIL1!
by InvestyourAsset
CrudeOil important levels to watch ! CrudeOil important levels to watch are as follows #Support: 7460 Sell below: 7460 only on 15 minute candle closure below the level. Target 1: 7400 Target 2: 7315 #Resistance: 7560 Buy Above: 7560 only on 15 minute candle closure Above the level. Target 1: 7645 Target 2: 7740 #Remember each level will act as a support and resistance individually so there is a probability of reversal on either side. Please do your own research before initiating any trade. Always keep stoploss in order to protect your capital. Follow us for more such information and educational ideas. Give it a like if you appreciate the idea. Queries will be answered in comment section. #If you are Unable to trade properly and dissatisfied with your manual trading results due to busy schedule or "Fear & Greed" emotions Algorithmic trading can be the most useful solution kindly follow us and join us using details mentioned below the idea. #Disclaimer: This is just a view and published here only for educational purpose, this should not be considered as a buy or sell signal. Trading in stock market may involve financial risk therefore, do your own research before taking any position.
MCX:CRUDEOIL1!
by InvestyourAsset
CrudeOil Important Levels to watch !CrudeOil important levels to watch are as follows #Support: 7501 Sell below: 7500 only on 15 minute candle closure below the level. Target 1: 7460 Target 2: 7410 #Resistance: 7540 Buy Above: 7540 only on 15 minute candle closure Above the level. Target 1: 7570 Target 2: 7610-7630 #Remember each level will act as a support and resistance individually so there is a probability of reversal on either side. Please do your own research before initiating any trade. Always keep stoploss in order to protect your capital. Follow us for more such information and educational ideas. Give it a like if you appreciate the idea. Queries will be answered in comment section.
MCX:CRUDEOIL1!
by InvestyourAsset
crude oil avoid fomoYOU WILL GET CHANCE TO GO LONG ON OIL AT 6900 LEVEL AVOID FOMO AT CURRENT LEVEL hello everyone, price at cmp = 7000 - 7300 has multiple resistance from previous trend and with current trend price has left some imblanace zone and fair value area which is likely to be retested soon within current zone there will be trap on both side as big institute and banks will be creating liqudity pools getting in their way = wiping your account there are some other pair tradable still keep track on this idea & level 6910 and 6885, 6690 and 6750
MCX:CRUDEOIL1!
by Jimmy_Rebello
CrudeOil Important Levels to watch !! CrudeOil important levels to watch are as follows #Support: 7190 Sell below: 7190 only on 15 minute candle closure below the level. Target 1: 7100 Target 2: 6970 #Resistance: 7300 Buy Above: 7300 only on 15 minute candle closure Above the level. Target 1: 7370 Target 2: 7480 #Demand Zone: 7060-7090 may act as a immediate buying zone, and price may bounce from the region marked in green on the chart. #Remember each level will act as a support and resistance individually so there is a probability of reversal on either side. Please do your own research before initiating any trade. Always keep stoploss in order to protect your capital. Follow us for more such information and educational ideas. Give it a like if you appreciate the idea. Queries will be answered in comment section.
MCX:CRUDEOIL1!
by InvestyourAsset
Fuel Your Wealth with CrudeOil !! CrudeOil important levels to watch are as follows #Support: 7050-7055 Sell below: 7050 only on 15 minute candle closure below the level. Target 1: 7000 Target 2: 6950 #Resistance: 7080 Buy Above: 7080 only on 15 minute candle closure Above the level. Target 1: 7125 Target 2: 7190 #Demand Zone: 6960-6990 may act as a immediate buying zone, and price may bounce from the region marked in green on the chart. #Remember each level will act as a support and resistance individually so there is a probability of reversal on either side. Please do your own research before initiating any trade. Always keep stoploss in order to protect your capital. Follow us for more such information and educational ideas. Give it a like if you appreciate the idea. Queries will be answered in comment section.
MCX:CRUDEOIL1!
by InvestyourAsset
Fuel your Wealth with crude oil !! Crudeoil important levels to watch are as follows. Currently, CrudeOil is moving in a parallel channel since 23rd August. Meanwhile current important levels are as follows. #Support: 6750 Sell below: 6750 only on 15 minute candle closure below the level, next immediate support can be expected at day Low which is marked in dashed line. Target 1: 6690 Target 2: 6640-6420 #Resistance: 6771 Buy Above: 6771 only on 15 minute candle closure Above the level. Target 1: 6820 Target 2: 6875-6890 #Demand Zone: 6600-6630 may act as a immediate buying zone, and price may bounce from the region marked in green on the chart. #Remember each level will act as a support and resistance individually so there is a probability of reversal on either side. Please do your own research before initiating any trade. Always keep stop-loss in order to protect your capital. Follow us for more such information and educational ideas. Give it a like if you appreciate the idea. Queries will be answered in comment section.
MCX:CRUDEOIL1!
by InvestyourAsset