CrudeOil Day Trading Strategy [27 May 2020]Shorting opportunity in MCX CrudeOil Futures if the price breaks the trend line and stays below the shorting zone.
SL: 2630, Target1: 2559, Target2: 2536
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Mcxcrudeoil
USOIL is at 61.8% Retracement will shoot up to 32.90$According to my view USOIL is at 61.8% Retracement (correction) in Daily candle closing basis. This is based on basic technical analysis with support and Resistance/Supply & demand using Fibonacci Retracement as an entry level and Fibonacci extension for target level. As per my view it will reach to 32.90$. As we know USOIL if spot price for crude oil futures in MCX so my suggestion is entry according to analysis through USOIL and targets also followed by it.
Buy @ 23.07$
Target 1 32.90$
Stoploss @ 21$ as per 1 day candle closing basis
#Happy Trading
Brent Crude | Important levels at 63.60 & 62.30Brent Crude has taken support from a rising trendline. We could also see a "Morning Star" candlestick pattern adding to bullish bias. But 63.60 is an immediate resistance which will test the strength of Bulls. If price manages to break above 63.60, we can well expect crude to move towards 65.50. However, if the upward move gets arrested at 63.60 and manages to fall, immediate support will obviously be at 62.30. In any case if 62.30 is taken out we can expect the price to fall towards 60.40 levels.
(Disclaimer: Our charts and contents are just for the purpose of analysis, learning and general discussion. Do not consider these as trading tips or investment ideas. Trading in Stocks, Futures and Options carry risk and is not suitable for every investor. Hence it is important to do your own analysis before making any investment or trading decisions based on you personal circumstances and it is always better to take advice from professionals)
Expertcrudeoil.com - NYMEX, Brent Crude oil costs Expertcrudeoil.com - NYMEX, Brent Crude oil costs gain unassumingly
Light, sweet raw petroleum costs picked up on the New York showcase Mar. 7 as did Brent unrefined petroleum costs in London in spite of markers of debilitating world financial development.
The European Central Bank slice its 2019 development estimate to 1.1% from 1.7%. Already, the Organization for Economic Cooperation and Development downsized its development conjectures for the G20.
"All things considered, positives are progressively hard to come by for the world economy, and this will just serve to obscure the viewpoint for oil request," Stephen Brennock, PVM Oil Associates Ltd. examiner, told the Wall Street Journal.
On Mar. 8, the US and China still couldn't seem to plan a summit between US President Donald Trump and Chinese pioneer Xi Jinping, demonstrating neither one of the sides trusts an understanding is impending to the two countries' progressing exchange question.
Terry Branstad, US agent to Beijing, said arbitrators keep endeavoring to work out contrasts, including subtleties on authorization of any inevitable arrangement.
"The two sides concur that there must be huge advancement, which means an inclination that they're extremely close before that occurs," before meeting arrangements are made, Branstad told WSJ from the US government office in Beijing. "We're not there yet. In any case, we're nearer than we've been for an exceptionally lengthy time-frame."
Energy prices
The April contract for light, sweet raw petroleum on the New York Mercantile Exchange expanded 44¢ to settle at $56.66/bbl on Mar. 7. The agreement for May conveyance additionally expanded 41¢ to settle at $57.03/bbl.
NYMEX flammable gas for April expanded 2¢ to an adjusted $2.86/MMbtu on Mar. 7.
Ultralow-sulfur diesel for April diminished under 1¢ to stay at $2.01/lady. The NYMEX reformulated gas blendstock for April picked up 1¢ to an adjusted $1.80/lady.
Brent rough for May conveyance increased 31¢ to $66.30/bbl while the June contract expanded 29¢ to settle at $66.26/bbl.
The gas oil contract for March picked up $2.25 to $622.25/ton on Mar. 7.
The normal cost for the Organization of Petroleum Exporting Countries' container of crudes was $65.57/bbl on Mar. 7, up 53¢.
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