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Energy Commodities

WTI Crude Oil Analysis: Key Levels and $65 Accumulation StrategyThe WTI Crude Oil chart highlights a long-term bearish trend, with price testing key support and resistance zones. Here's a concise breakdown: Key Levels to Watch Support Levels: $65.00 (immediate), $61.52, $56.97, $55.00, $51.76, $42.87. Resistance Levels: $72.80, $78.44, $83.64, $93.40. Current Opportunity for Swing Trade Accumulate near $65.00 with a stop-loss slightly below $65.00. Targets: $69.00, $72.80, $78.44. Trade Setups Bullish: Enter on $65.00 support bounce or breakout above $72.80. Bearish: Short on rejection at $72.80 or breakdown below $65.00. Market Outlook Bearish Bias: Break below $65.00 could lead to $61.52 or $56.97. Bullish Reversal: Break above $72.80 targets $78.44 and beyond.
TVC:USOILLong
by ayusharya_001
Crude Oil Futures: Key Levels and Scalp Trade StrategiesThe daily chart of Light Crude Oil Futures (NYMEX) indicates a long-term bearish trend, with key levels offering opportunities for short-term scalp trades. Key Observations: Downtrend Resistance: The yellow trendline starting from 2022 highs continues to cap upward movements. Support Zone: $66.40 is a critical level where buyers repeatedly defend, creating a strong price floor. Resistance Levels: $72.58, $77.20, and $84.20 serve as major hurdles for upward price action. Volume: No significant volume spikes currently, but monitor closely for breakout confirmation. Scalp Trading Opportunities: 1. Long Trade: Entry: Near $66.40 support on a bounce. Targets: $69.00 (nearest resistance) and $72.58. Stop-Loss: Below $65.90. Why? Buyers consistently hold this level, making it ideal for quick upward moves. 2. Short Trade: Entry: Near $72.58 resistance after a rejection. Targets: $69.00 and $66.40. Stop-Loss: Above $73.50. Why? Sellers dominate this zone, offering quick pullback opportunities. Key Points to Watch: Bearish Breakout: A high-volume breakdown below $66.40 could send prices to $60 or lower. Bullish Reversal: Breaking the yellow trendline and $77.20 resistance could spark a rally toward $84.20. Volume Confirmation: Significant volume spikes near key levels (support or resistance) often confirm a breakout or rejection.
NYMEX:CL1!
by ayusharya_001
Natural Gas Futures Breakout: Key Levels to Watch Above 250 INRThis chart shows the weekly price action for Natural Gas Futures on the MCX (Multi Commodity Exchange) with some key technical indicators: Analysis: Trendline Breakout: The price has successfully broken out of the symmetrical triangle, signaling a potential bullish reversal. A breakout from this pattern often leads to further upward movement, especially if it’s supported by strong volume. Key Resistance Levels: With the price near 250, it’s approaching the next resistance levels at approximately 254 and 278. If these levels are surpassed, the next target could be around 305 INR/MMBtu. Volume Confirmation: The volume is relatively strong, adding credibility to the breakout. A sustained increase in volume would reinforce the bullish outlook. Trade Plan for Natural Gas Futures: Entry: Enter around 250 INR after the breakout confirmation. Targets: Target 1: 278 INR Target 2: 305 INR Stop Loss: Set a stop loss below 240 INR to limit downside risk. Risk Management: Consider booking partial profits at 278 INR and trail stop to breakeven. This trade plan is built on the breakout with targets at 278 INR and 305 INR, while managing risk with a stop loss below 240 INR. Watch for volume to confirm momentum, and adjust your stop or book profits as key levels are reached.
MCX:NATURALGAS1!Long
by ayusharya_001
Reliance Industries Weekly Chart Analysis#Reliance Key Levels: Temporary Stop-Loss: ₹1,277.05 Averaging Zone: ₹1,277 - ₹1,144 Strong Stop-Loss: ₹1,130 The Reliance Industries stock is currently trading at ₹1,283.75, witnessing a decline of 4.10% in recent weeks. The key support level to watch is ₹1,277.05, which serves as a temporary stop-loss. If the stock price continues to fall within the range of ₹1,277 - ₹1,144, this zone is considered suitable for averaging. The strong stop-loss level is set at ₹1,130, indicating a critical point for traders to exit if the price breaks below this threshold.
NSE:RELIANCELong
by UmangDadhaniya
Crude Oil Trading Idea for Monday Session (21-10-2024)Crude oil price is currently Strong Resistance zone and it seems it'll break this zone if it breaks the level then then we can see the surge to 71.200 level or more from the zone in todays session and change in trend with minor pullback but if it fails to breach this zone then we can see a short to 69.000 to 68.600 level and if this level doesn't sustain the momentum of price then we will see a new low level in upcoming session.
FX:USOILLong
by NobleFalcon
Navigating Change: The Impact of SEBI's F&O PolicySEBI's new rules for F&O traders will take effect on November 20. The changes include increasing the contract size for index derivatives from Rs 5-10 lakh to Rs 15-20 lakh, which i believe is not a good idea. They are also reducing the number of weekly expiry options for index derivatives, which i see as a positive change. However, the decision to eliminate weekly expiry for Bank Nifty options is viewed negatively. It's hard to understand what SEBI is trying to achieve. i think the chairman believes she is making smart decisions, but it feels quite the opposite. It seems like they want to take more money from retail investors while claiming to act in their best interest. Increasing taxes, raising contract sizes, and removing Bank Nifty weekly expiration's doesn’t seem helpful for the stock market or retail traders. Retail investors and traders play a crucial role in providing liquidity for institutional investors, generating tax revenue for the government, and maintaining market vitality. However, it appears that SEBI primarily favors large traders and investors, which may seem unfair to the retail segment. Instead of educating retailers, there appears to be a focus on restricting their earning opportunities in the stock market. In the future, this may leave only major players able to trade in India's stock market. SEBI should realize that there are many stock markets in different countries, and if retail investors and traders face restrictions here, they will move on to Forex or US stocks, which often offer higher leverage and lower brokerage fees. Retail traders will trade regardless. The solution should be to educate investors and give them the freedom to make their own choices. I hope that in the future, SEBI will have a knowledgeable chairman who understands these issues better.
TVC:USOIL
by ard-komercisto
MCX Natural Gas Analysis for medium termMCX:NATURALGAS1! looks bullish. If we look at the daily chart carefully, we will see it retraced a lot and tested 125. Then it is mostly a range bound from 140 to 280. Now this 280 level is also the 23% Fib retracement level. Around this level the price hits already 5 times, after breakdown almost one and half year back. However this time it has created a W pattern. (or one can say a rounding bottom pattern). After testing the 280 level in one week back, it retraces back a bit and most likely creating a nice Cup and Handle pattern. Here are the expectations: NG will test 280 level once more. After that if it able to brakes it out 280, it will go to test the next resistance. The next resistance is 400 level, positionally. Also fundamentally, per the estimation of International Energy Agency (IEA) Global Gas Security Review, the Natural Gas demand is forecasted to rise by over 2.5 per cent in 2024, with similar growth expected in 2025. And it will be steady for next few years even with 1.5 degree Paris Weather convocation. So stay alert. Above 280 sustains means it's a Buy on Dip on Natural Gas. Till then: Wait and Watch.
MCX:NATURALGAS1!Long
by pradipandsuvra