Crudeoil intraday levels for 15.11.2022Resistance level: 7035
Support level : 6915
****Fib Retracement levels will act as the support or resistance****
If candles are sustaining or break above resistance level , we can expect upside move and the targets will be fib retracement levels as per chart
If candles are sustaining between resistance and support levels, consider as neutral
If candles are consolidating in buy zone or sell zone, wait for the breakout
If candles are sustaining or break below support level , we can expect downside move and the targets will be fib retracement levels as per chart.
If gap up or gap down opening, fib retracement levels will act as the support or resistance
Note: Pls check my previous day idea for better understanding & how it works
Please let me know in comment section if you have any queries and like the idea If you agree with the analysis.
Disclaimer:
Views are purely educational in nature. You are solely responsible for any decisions you take on basis of my research
Crudeoiloutlook
CRUDE OIL TO CONTINUE LOWER TO COMPLETE ITS FINAL LEG DOWNCrude Oil is left with some more beating
Trade Plan 1
Short sell for immediate target of $21.76
Continuing its downward move which should conclude near $21.76 if EOW ((C))
and
Trade Plan 2(will be active only after trade plan 1 reached target)
Short sell for deeper target of $9.83
EOW 3 of Y around same level of $9.83 of cycle wave
We can see sharp reversals from the levels mentioned
Happy Trading Respect Risk
View are for EDUCATIONAL PURPOSE ONLY ....Trade at your own risk
Crude oil 4h chart, technical looks weak.Crude oil 4h technical-looking weak. Bear pennant on the price itself and a rising wedge on 4h RSI both combination suggests a strong bearish sentiment. upcoming week we can witness so many stupid repeated news like economic slowdown, trump - china, Iran war, trade war,. and so many never-ending shits. so, technically we have to gauge the price where it's heading next.
Expected short term target 50 and 48.
Reasons and Confluences:
1. Bear pennant on the price itself.
2. Rising wedge on the 4h RSI.
3. Elliott Wave ABCDE pattern.