We are bullish on crude oil for short term (one can say till expiry 17 dec)
Risky traders can take long position in trade with a strict stop loss of 4620 for a target of 5450.
We are still trading in the range between 4600 and 5500.
Any lower or upper breakdown will decide its direction again.
Trading is not about trying to capture every...
One can go long at current levels or in dips (if any) with stop loss of 5880
for targets of 5990, 6050, 6100, and 6150.
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Gold Price Slowly Going Upside
Key levels: 48113 - 47616
MCX gold has been moving under the range of 48113 - 47616. It's a very crucial point. We may see a continued uptrend ahead if it breaks and close above 0.382 retracement level. That can be up to 48260 - 48490 - 48600 - 48700.
And if it breakdown the 0.5 retracement level, then we may see 47496 - 47300 -...
After the y'day upside move in final few hours and earlier today, crude has retraced to .618 levels of previous rise.
this should be a good area of value for fresh longs with stops below .786 fib.
In another alternate scenario, the retrace can get deep to .786 fib and bounce from there.
Entry should be based on a bullish candlestick setup in minimum 15 min tf.
Crude after witnessing a 10% intraday fall, is about to close a bullish hammer/gravestone doji candle.
with low of this candle as SL, long is a good R:R trade.
Buy when price starts moving above the high of hammer/dragonfly doji candle
crude oil reversed from supply zone near $79
and intensified the selling pressure below our selling level $74
now downside demand zone is $67--$68... if broken than straight away $61
crude oil collapsed new Covid variant led to fears of renewed mobility restrictions, potentially hitting demand from the air travel market.
just like mentioned it before natural gas is only bearish if ng breaks 350 levels .. now its making bullish flag n pole pattern.. lets see where it goes now. if ng break 400 levels then its going to be start of another bull run. lets see...