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MCX

MCX Crude future analysisLet's do a multi time frame analysis of Crude chart. On monthly time frame Crude seems to be running in a parallel channel, except that it has given two outliers outside it. It first broke down the channel during Covid to make a new low and then during Ukraine Russia crisis it broke out of the channel to make a new high. On weekly time frame, crude made a double top with rising wedge formation and broke down and since then it is in downtrend where every rise has been sold off and finally it entered back in the same channel during August'22 and since then it has been facing resistance at the top of the channel. Current chart formation indicate that it is making a inverted flag & pole kind of formation and has given a breakdown of the lower trendline with double top formation. On daily time frame, pattern indicates that it recently made a triple top at the previous resistance / breakdown level of 6780, with immediate support placed around 6000/5800, and if it starts sustaining below it - there is possibility that crude may melt more. On 4 hour time frame, it is making a rounding top and breakdown of the same can take crude to around 5200 levels, pattern target - which is also near about bottom of the channel support placed on monthly time frame.
MCX:CRUDEOIL1!Short
by aktradelearning
GOLD MCX GOLD FORMING 5-0 HARMONIC PATTERN AND GARTLEY ON DAILY CHART Sell gold below 56980 add more 57170 two days closing stop loss 57463 above target 56000-55200-54400-53500 taking two days closing just bcoz 2 big event upcoming first one is indian union budget second one is fed int rate import duty should cut in budget expected already last 2 time hiked with high % {{{{{ last posted not active Sell below 56466 with closing stop loss of 57200 above target 55200-54400-53500}}}}} last idea attached below
MCX:GOLD1!Short
by YOGESH_KUMAWAT
natural gas (ng) mcx ab=cd with shark harmonic pattern Natural gas forming ab=cd harmonic pattern with shark harmonic pattern . that pattern indicate =BUY natural gas between 221-19 add more 195.9 two days closing 168 below target 403-574-801 we kept two days closing stop loss just bcoz of weekly time frame.. above 247 closing will take sharp move for 300-403 around 403 should partial booking can consolidated or reverse from there for retrecment . 2 days close above 403 is non stop target will life time high ... if all set then should not go and close below 189 BOLO JAI GAJANAND
MCX:NATURALGAS1!Long
by YOGESH_KUMAWAT
5
NG (MCX): Week of - 27/02/2023Levels: Support: 200, 190, 175, 150, 120 Resistance: 220, 235, 250 OI Data (24rd March Expiry): Nearest Major Resistance per OI data: 220 Nearest Major Support per IO data: 200 Trade setup: 1. In the chart, clearly marked which is the No-Trade, which is the BUY and which is the Sell zone. +++++++++++++++++++++++++++++++++++++++++ Trade | Level | SL | T1 | T2 ----------------------------------------- BUY | > 220 | 200 | 235| 250 ----------------------------------------- SELL | < 190 | 200 | 170 |150 +++++++++++++++++++++++++++++++++++++++++
MCX:NATURALGAS1!
by pradipandsuvra
Crude Oil (MCX): Monday - 27/02/23Levels: Support: 6320, 6290, 6220, 6150, 6072, 6000 Resistance: 6400, 6430, 6500, 6620 OI Data (16th Mar Expiry): Nearest Major Resistance per OI data: 6500 Nearest Major Support per IO data: 6200 Trade setup: +++++++++++++++++++++++++++++++++++++++++ Trade | Level | SL | T1 | T2 ----------------------------------------- BUY | > 6375 | 6320 | 6430 | 6500 ----------------------------------------- SELL | < 6280 | 6230 | 6320 |6280 +++++++++++++++++++++++++++++++++++++++++
MCX:CRUDEOIL1!Long
by pradipandsuvra
Natural Gas (MCX): Week of 20/02/2023Levels: Support: 180, 150, 120 Resistance: 200, 220, 235 OI Data (21st Feb Expiry): Nearest Major Resistance per OI data: 200 Nearest Major Support per IO data: 200 * interesting * Trade setup: 1. Setup: Bearish 2. 200 is the make-or-break level for this Thursday expiry. (It has 7k Call and 4.2k Put) 3. If it stays above 215-220, there will be short covering, pushing it towards 250. Go long with SL: 200 (1 point = 1250/-) 4. Below 180, it's sell. 5. Best trade is: If the price pull back above 200 (~210 level) and then shows weakness (15m / 30m timegframe), buy NaturalGas 200 PE (23rd Feb). Put a SL (in Future) as 220. RR is great: 1:3 (210 vs 220 as SL, target 180) +++++++++++++++++++++++++++++++++++++++++ Trade | Level | SL | T1 | T2 ----------------------------------------- BUY | > 220 | 200 | 235| 250 ----------------------------------------- SELL | < 180 | 200 | 150 |125 +++++++++++++++++++++++++++++++++++++++++
MCX:NATURALGAS1!
by pradipandsuvra
NG (MCX): Week of - 13/02/2023Levels: Support: 200-190 Resistance: 220, 230, 250 OI Data (21st Feb Expiry): Nearest Major Resistance in NG per OI data: 220, 230, 250 Nearest Major Support in NG per IO data: 200 Trade setup: 1. Looking at the OI data, most likely range-round is: 200-250 +++++++++++++++++++++++++++++++++++++++++ Trade | Level | SL | T1 | T2 ----------------------------------------- BUY | > 230 | 220 | 250| 300 ----------------------------------------- SELL | < 195 | 205 | 175 |150 +++++++++++++++++++++++++++++++++++++++++
MCX:NATURALGAS1!Short
by pradipandsuvra
Crude Oil (MCX): Monday - 13/02/23Levels: Support: 6500, 6460, 6375, 6335, 6300 Resistance: 6620, 6700 OI Data (15th Feb Expiry): Nearest Major Resistance in Crude per OI data: 6600 Nearest Major Support in Crude per IO data: 6400 Trade setup: +++++++++++++++++++++++++++++++++++++++++ Trade | Level | SL | T1 | T2 ----------------------------------------- BUY | > 6620 | 6550 | 6660 | 6700 ----------------------------------------- SELL | < 6500 | 6550 | 6450 |6400 +++++++++++++++++++++++++++++++++++++++++
MCX:CRUDEOIL1!Long
by pradipandsuvra