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Is Crude Oil forming wave (5) of its wave cycle?Is MCX crude oil downtrend a trap? According to the Elliott Wave analysis on the crude oil daily chart, it has completed wave (4) and trying to move out from the Parallel channel’s (PC) control line (CL). If that successfully remains above CL, crude oil prices will hike from CL to the resistance line of the PC. That’s a direct call for target levels of 7800 – 8000 – 8360 – 8880+ for short-term investors. Long-term investors must focus on the wave (5). Black gold will touch the level of 10000 and march for the level of 11000 on the 5th wave completion.
MCX:CRUDEOIL1!Long
by freestocktips
MCX Crudeoil - Forecasting the Next step with EWTMCX crude oil has made the bullish Elliott wave on the 4H time frame. The fifth wave is remaining, and the trend has to cross 3900 - 4000 - 4040 to complete the fifth wave. Then the trend will fall for a short time to make the A of the ABC correction. After that, it will rise again to a particular level to make the B, and then fall again for a short time to make the C. This is how the trend will complete the Elliott wave pattern with the ABC correction. But if it falls, then it will be the failure of the Elliott wave. And targets for the fall will be 3700 - 3650 . As per the indicators............ DMI- ADX is greater than 25, +DI is above the -DI. DMI shows the allover uptrend. RSI is indicating the uptrend, too.
MCX:CRUDEOIL1!
by freestocktips
6
When MCX Crudeoil touch 4000 levels? - Part IAccording to the daily chart of MCX crude oil, it is further advance for short-term investors. The retracement level of 0.618 is a perfect entry-level. In the previous update of crude oil, we have recommended buying many times. As per RSI & MA, it seems bullish. We will see soon target 1 and target 2 price after a short reversal. But if you want to see a clear trend, we'd see it in a 4 hours chart. LINK is available in the comment section.
MCX:CRUDEOIL1!Long
by freestocktips
Crude Oil Price Setting Up For A Downside Price RotationFirst, let's talk about the previous update of crude oil. There, I have drawn the symmetrical triangle bearish pattern on the hourly chart of MCX's crude oil. I had written for the day traders, " ...the last expected stop is at E. So, we may see crude oil at/below 2840 – 2820 level ". THESE TARGETS HAS REACHED. And for the short-term traders, I had written in bold words, " this symmetrical triangle base range is 378 points. So, the game will begin whenever crude oil will breakout the triangle pattern. Downward breakout’s targets: 2610 – 2500 – 2460 ". Crude oil has touched the first target ( 2610 ) by making a low of 2606 level on 29 Oct '20. Now let's come to the point, will crude hit the second & last target or not? CRUDE OIL DOWNSIDE BREAKOUT ALERT! If crude oil prices break out the 2600 level, we will see 2540 - 2500 - 2460 levels before the weekend. Please note that don't sell it above the 2600 level. I have updated significant releases or events that may affect the movement of bullion & the energy sector commodities here:
MCX:CRUDEOIL1!Short
by freestocktips
3
MCX Crude Oil Hourly Charts In-Depth AnalysisFOR THE DAY TRADERS: MCX Crude oil has made a symmetrical triangle pattern, and that indicates a bearish continuation. At present, its price is moving inside the triangle pattern. That's a consolidation area. The prices will keep playing sideways here. Intraday traders can sell or buy based on control price. The last expected stop is at E. So, we may see crude oil at/below 2840 - 2820 level. FOR SHORT-TERM INVESTORS: This symmetrical triangle base range is 378 points. So, the game will begin whenever crude oil will breakout the triangle pattern. Upper breakout's targets: 3130 - 3200 - 3280+ Downward breakout's targets: 2610 - 2560 - 2460 Beware to tail, fakeout, and excess.
MCX:CRUDEOIL1!
by freestocktips
expertcrudeoil :Kuwait investigates with India to lessen on oilOil rich Kuwait is investigating to new segments of monetary organization with India to execute Kuwait's improvement plans with less reliance on hydrocarbon. Kuwait Ambassador to India Jassim Al-Najim, tended to national meeting as boss visitor in the esteemed Jamia Millia Islamia University in New Delhi. The tradition, themed "India, China and the Arab World Exploring New Dynamics," was sorted out by Indo Arab Cultural Center at the college, in collaboration with the Kuwait Embassy India and the Arab world relations are not limited to exchange and financial aspects but rather additionally incorporates expressive arts, design and model as a gathering of artifacts found on Kuwaiti island of Failaka demonstrates, the Ambassador noted. "Exchange among India and Kuwait thrived since the nineteenth century as of not long ago and Kuwait has been a vital exchanging accomplice for India with complete exchange of $ 5.6 billion of every 2016-17 and seventh biggest unrefined petroleum provider to India in a similar period," he included.
NASDAQ:AAPL
by expertcrudeoil