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MCX

MCX Crude Oil : Correction is Expected!!!Global crude oil prices have risen more than 14 percent in the past 30 days as traders see a continued rise in demand and supply fails to keep up. The 400,000 barrel per day output hike recently decided by Oil and Petroleum Exporting Countries is not expected to meaningfully bridge the gap between demand and supply. TECHNICAL ANALYSIS Crude oil has touched resistance recently and today it mace bearish harami candle on the peak near to its resistance which triggers downfall in crude oil. CONCLUSION Short crude oil with a stop loss of yesterday’s high. Very soon correction of 500 points can be seen from current levels.
MCX:CRUDEOIL1!Short
by moneymarine
EWT: Will Crude Oil Reach 7000?Crude oil is forming impulsive waves ((5)). After the completion of wave ((3)), the price had started complex running flat of the corrective wave ((4)). Wave B has crossed the high of wave ((3)), but wave B couldn't break the low of wave A. Price has made a failure of swing low, which was a rejection of a downtrend, and crude oil gained momentum. Price has exceeded the sub-wave B of wave ((4)). Sub-wave 4 of wave ((5)) is in progress. If their price breaks out the high of wave 3, we can expect the following target for final sub-wave 6697-6785-6865+ . It means the price has bullish sentiments above wave three and vice versa. Breakout of the parallel channel shows the weakness of the impulsive wave. Note that wave four can never overlap the starting point of wave 1.
MCX:CRUDEOIL1!
by forextidings
2
MCX Short - Death Cross Over & Major Support BreachDeath CrossOver :- 50MA falling down 200MA ---------------------- Price broke the Major Support and going down. Large Volume Selling can be seen in the last two days, Bears are in the Driver Seat now. So, not advisable to take Long Position now. One, Two green candles may form now as Pullback Bull Leg, so be cautious for taking Long Positions. Next Major Support S1 is at 1394 After that, it may take Support S2 from the Existing Trendline Support at 1370. Next Major Support S3 is at 1341. If it breaks that, significant downfall may be expected. PS- I am not SEBI Registered. Views are for personal reference.
NSE:MCXShort
by TradeWithSwarup