TECHNICAL ANALYSIS
In October 2018, Crude Oil prices touched the level of ₹ 5600 on MCX but after that they sharply fall to ₹ 3000 same year in December.
Further last year during the lockdown crude oil fell to ₹ 1100 on MCX in April 2020 and rose to ₹ 5600 this year in July 2021.
Journey from ₹ 5600 in Oct 2018 to ₹ 3000 in April 2020 and again to ₹ 5600 in...
Triangle Pattern found in Crudeoil.
Upside Target 5150 and Downside Target 4924.
Wait for Breakout or Breakdown. Take a Position after Breakout or Breakdown on Next 15 min Candle.
Double Top - Bearish candles expected in the upcoming days if the demands are lowered.
After the double bottom the market has showed a steady up trend rally. Same way now Double top has been formed.
This has happen before and again its showing a strong double top , Hence down trend rally is possible if the demands are lowered.
Given is my personal analysis.
LEVELS are marked in the chart , These are the strong support and resistance in the upcoming market.
Double bottom in 30 mins timeframe
And as per the chart pattern the market has moved up.
Now it has hit the strong resistance at 4691, and its time for a reversal which is a
down rally.
We also need to check the inventory release for tmrw and involve in...
After a lot of choppy sessions & an upside move , crude struggled the level of 64.5 $ & bears took control over there. As per the current structure we can anticipate a zig-zag correction having wave B completed at the level of 64.4 $ . We expect a downside movement to break the level of 57$ at least. The key level should be watched 64.5 as the SL,
