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Mcxcrude

CRUDE OIL TREND ANALYSISTECHNICAL ANALYSIS In October 2018, Crude Oil prices touched the level of ₹ 5600 on MCX but after that they sharply fall to ₹ 3000 same year in December. Further last year during the lockdown crude oil fell to ₹ 1100 on MCX in April 2020 and rose to ₹ 5600 this year in July 2021. Journey from ₹ 5600 in Oct 2018 to ₹ 3000 in April 2020 and again to ₹ 5600 in July 2021 ( shown in blue colour in graph) confirm the double top pattern with a resistant of ₹ 5600. On October 4th 2021, it gave closing at ₹ 5825 (above its major support of ₹ 5600) for the first time after Oct 2018 that confirmed the upward moment of crude oil. CONCLUSION We do not suggest you to make any fresh short position in crude oil at this level. However, making any long position at this level would also be very risk as the prices are not certain at this level, however levels around ₹ 6500 can be seen very soon in crude oil on mcx.
MCX:CRUDEOIL1!Long
by moneymarine
Will Crude Oil Hit 5400 Next Weekend?Crude oil has started moving forward since May. It will not stop here. It's just a WXY correction. According to Elliott's wave theory, it has completed the sub-wave under the 4th wave. It's consolidation time. Crude oil prices may fluctuate between the range of 4000 - 5400 . Hence, long-term investors can keep buying crude oil. So, what about short-term investors and intraday traders? If you look into 4 hours chart, it seems bullish from here. Crude oil is trying to break the resistance trendline. Whenever that the resistance trendline break, then we may see the prices at 5300 - 5400+ . Kindly note, if crude oil remains below to resistance trendline, then do not buy. What happens if it does not break the resistance trendline? I will update my next MCX crude oil report.
MCX:CRUDEOIL1!Long
by freestocktips
3
Can crude give breakthrough at MCX??As seen earlier crude was moving long term upward direction. Which support was broken 3478 at MCX due to CORONA impact globally now again it comes in that channel with break out 3478 levels and Break downward channel resistance of 3844(not exact) at MCX also supported by Energy policy of BIDEN government. So I feel again crude can be seen in positive momentum. Disclosure:- I am not having Crude position in my portfolio also this is only for study and educational purpose. One should take trade with advice of there financial advisor.
MCX:CRUDEOIL1!Long
by P_hetalben