Short UKOIL - Target 62.50-63 Confirmation - Long Upper Wick We are presently within a triangle. Crude to head lower. Target - 62.50-63
Crude oil 4h time frame. formed an H&S. price consolidating at right shoulder forming a bull flag pattern, wait for breakout to downside and put stop above right shoulder targeting 53.92, 51.85. Reason: 1. confluence is that price reached at 50% and 61% fib level from head to right shoulder impulsive extension. 2. confluencce 4h time frame RSI is at extrem...
Crudeoil Analysis for Interday..
On the back of Crude inventories data released by American Petroleum Institute(API), according to which inventories fell less than expected, the commodity declined sharply citing lower demand. For further confirmation of the same one can watch crude inventories data about to be released by US government's Energy Information Administration (EIA) at 20:00 Hrs IST....
The price is being consolidated between the Trend line (Yellow) and the support line (Green) , we can expect the price to break the trend line along with the immediate resistance line in next price swing ($ 60.68 ) a long position can be taken once the price breaks out of the Trend line and target and stop loss shall be as indicated in the chart
As Per early post US crude oil target achieved Bullish till stay above 60.3 for 61 & 62
Brent, after breaking through prior high of 66.7 has now pulled back towards the same area. This move could just be a retest of that level and it wouldn't be a surprise if price appreciates from now. Hence long trades are preferable with tight stop below 66; because below which the price could fall to 64 or to the bottom of the Rising channel. On the upside, do...
Rising Wedge pattern observed in BPCL. Pattern looks to have confirmed suggesting a bearish outlook. Target depth of wedge is around 128 points. With confirmation of pattern occurring at 364, Target of the pattern comes in at 236. (Disclaimer: Our charts and contents are just for the purpose of analysis, learning and general discussion. Do not consider these as...
Crude Oil study - A possible fake out This could be a fake out. Be careful and stay away from going long now!