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Mcxcrudeoil

#MCXCrudeOil Weekly – Breakdown into Major Support Zone#MCXCrudeOil Weekly – Breakdown into Major Support Zone CMP: 5,246 Crude Oil has broken down from a descending triangle with a confirmed weekly close below 5,308 , triggering target of 4,636 . This move unfolds within a larger falling wedge pattern , adding confluence and signaling potential volatility ahead. This breakdown aligns with two key confluences : 📉 The falling wedge lower trendline. 🟠 A major historical demand zone at 4,692 – 4,499 , which was previous resistance turned strong support on multiple occasions. This make-or-break support zone could act as: 🔄 A reversal zone , potentially triggering a bullish breakout from the wedge. 📉 Or, if breached, it may invalidate the wedge and lead to extended downside. Key Levels: Resistance: 5,903 & 6,184 (price action + wedge top) Support: 4,692 – 4,499 (confluence zone) Breakdown Target: 4,636 (descending triangle pattern) Watch weekly candle behavior near this zone closely for signs of either rejection or continuation . #CrudeOil #MCXCrude #ChartPatterns #FallingWedge #DescendingTriangle #PriceAction #BreakdownAlert #SwingTrading #CommodityTrading 📌 Disclaimer: This analysis is shared for educational purposes only. It is not a buy/sell recommendation. Please do your own research before making any trading decisions.
MCX:CRUDEOIL1!Long
by Stocks_Mario
CrudeOil in major resistance area may give breakout*$$CrudeOil is trading near major resistance area with positive news around the world for it. If Iran block Strait of Hormuz then it will give breakout from this area for target of 6655-6722 area & then 6988, 7301, 7500,7750. If Iran problem solved with USA then it may fall also from this resistance area with fast momentum for target of 6033, 5633, 5155, 4733. Please consult your advisor before taking any trade & with proper risk management. Thank You
MCX:CRUDEOIL1!
by K_Dyadav
Crudeoil Important levels to watch. Crudeoil important levels to watch are as follows #Support: 6810 Sell below: 6810 only on 15 minute candle closure below the level. Target 1: 6740 Target 2: 6670 #Resistance: 6890 Buy Above: only on 15 minute candle closure Above the level. Target 1: 6950 Target 2: 7030 #Demand Zone: 6810-6820 may act as a immediate buying zone, and price may bounce from the region marked in green on the chart. #Supply Zone: 6870-6890 may act as an immediate selling zone, and price may reject from the region marked in red on the chart. #Remember each level will act as a support and resistance individually so there is a probability of reversal on either side. Please do your own research before initiating any trade. Always keep stoploss in order to protect your capital. Follow us for more such information and educational ideas. Give it a like if you appreciate the idea. Queries will be answered in comment section.
MCX:CRUDEOIL1!
by InvestyourAsset
MCX Crude Oil: Will it Drop Below 5000 Before the Weekend?MCX Crude Oil: Will it Drop Below 5000 Before the Weekend? In the wake of the COVID-19 pandemic, crude oil prices experienced significant volatility, hitting a low of 795 and reaching a peak of 9996 on March 8, 2022 . Currently, the price is undergoing a retracement, approaching the key level of 50% . Following the peak, crude oil prices began to decline, forming a parallel channel pattern. The price has been trading below this channel for over a year. Based on moving averages data, crude oil is expected to reach the support level of 5396, which is currently acting as a strong support zone. A potential reversal may occur around the "control price line" from the 0.5 level of the Fibonacci retracement. If crude oil breaks the key retracement level and consistently closes below it, the following target levels may come into play: 5200 - 5000 - 4700.
MCX:CRUDEOIL1!
by freestocktips
1
Crude Oil (MCX): Monday - 20/02/23Levels: Support: 5500, 5450, 5350 Resistance: 5500-5575, 5625, 5700, 5750 OI Data (17th April Expiry): Nearest Major Resistance per OI data: 5700 Nearest Major Support per IO data: 5500 Trade setup: +++++++++++++++++++++++++++++++++++++++++ Trade | Level | SL | T1 | T2 ----------------------------------------- BUY | > 5600 | 5560 | 5650 | 5700 ----------------------------------------- SELL | < 5500 | 5550 | 5450 | 5400 +++++++++++++++++++++++++++++++++++++++++
MCX:CRUDEOIL1!Short
by pradipandsuvra
Crude Oil (MCX): Monday - 13/03/23Levels: Support: 6280, 6200, 6150, 6070, 6000 Resistance: 6325, 6400, 6430 OI Data (16th Mar Expiry): Nearest Major Resistance per OI data: 6400 Nearest Major Support per IO data: 6200 Trade setup: +++++++++++++++++++++++++++++++++++++++++ Trade | Level | SL | T1 | T2 ----------------------------------------- BUY | > 6325 | 6290 | 6350 | 6400 ----------------------------------------- SELL | < 6250 | 6300 | 6200 |6150 +++++++++++++++++++++++++++++++++++++++++
MCX:CRUDEOIL1!Short
by pradipandsuvra
Crude Oil (MCX): Tuesday - 07/02/23Levels: Support: 6250, 6175, 6075 Resistance: 6300, 6400 OI Data (15th Feb Expiry): Nearest Major Resistance in Crude per OI data: 6500 Nearest Major Support in Crude per IO data: 6200 Trade setup: +++++++++++++++++++++++++++++++++++++++++ Trade | Level | SL | T1 | T2 ----------------------------------------- BUY | > 6300 | 6250 | 6350 | 6400 ----------------------------------------- SELL | < 6200 | 6250 | 6100 |6050 +++++++++++++++++++++++++++++++++++++++++
MCX:CRUDEOIL1!
by pradipandsuvra
Crude Oil (MCX): Monday - 06/02/23Levels: Support: 6350, 6300, 6200 Resistance: 6450, 6500, 6650 OI Data (15th Feb Expiry): Nearest Major Resistance in Crude per OI data: 6500 Nearest Major Support in Crude per IO data: 6300, 6200 Trade setup: +++++++++++++++++++++++++++++++++++++++++ Trade | Level | SL | T1 | T2 ----------------------------------------- BUY | > 6500 | 6400 | 6600| 6700 ----------------------------------------- SELL | < 6400 | 6450 | 6300 |6200 +++++++++++++++++++++++++++++++++++++++++
MCX:CRUDEOIL1!
by pradipandsuvra