Crude Mcx for 100221 00.03Crude Oil MCX
The breakout above 3975 was witnessed.
The breakout implication was for rise to 1.618% retracement level 4104.
The price has crossed to high 4278.
The 2.618% retracement is at 4312.
The channel upper line is around the 4312-4350.
Traders long and holding the same can revise up the stop loss to 4180.
Book profits at higher range of 4312 or above.
Mcxcrude
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.
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.
When MCX Crudeoil touch 4000 levels? - Part IICONTINUE: When MCX Crudeoil touch 4000 levels? - Part II
According to the 4H chart of MCX crude oil, it's sharply moving upward. It's safe for intraday & short-term traders to take a position nearby the support trendline or 50 MA for the targets of 3600 - 3660 - 3700 - 3800 .
But what if it breaks the support trendline? DMI is indicating collapse ahead. I will update it soon.
MCX CRUDE OIL: Massive Rally is coming soonAccording to this chart, crude oil will keep moving forward and hit the following targets: 3600 - 4000 - 4400 - 4800 .
Here value 1 of retracement will react as support. And consecutive breakout of this support is a direct sign of a downtrend. It can be up to 0.886 (2982) to 0.786 (2735). You can use it as a target.
UPDATE: Identifying the Crude Oil Price Next Big MoveDid you read my 23 Nov report on crude oil?
Visit here: Identifying the Crude Oil Price Next Big Move
I had written in bold words, " smart investors can buy for 3260 - 3300 - 3360 - 3400 levels ".
Crude oil has touched the first three targets by making a high of 3376 levels.
Per lot, we have made a profit of 150+ points ( Rs.15,000+ ).






















