Levels: Support: 6200, 6160, 6070, 6020 Resistance: 6280, 6320, 6340, 6360, 6400 OI Data (16th Mar Expiry): Nearest Major Resistance per OI data: 6500 Nearest Major Support per IO data: 6400 *surprising* Trade setup: +++++++++++++++++++++++++++++++++++++++++ Trade | Level | SL | T1 | T2 ----------------------------------------- BUY | > 6430 | 6375 |...
CrudeOil Levels for Monday: Major Support: 5900 Major Resistances: 6230, 6600, 6730 Max OI Call writings (Resistance): 6200 Max OI Put writings (Support): 6000
Levels: Support: 6500, 6350, 6250, 6050 Resistance: 6650, 6780 OI Data (15th Dec Expiry): Nearest Major Resistance in Crude per OI data: 6600 (2.3K), 6700 (2.5K) Nearest Major Support in Crude per IO data: 6500 (2.4K), 6400 (2K) Trade setup: 1. For any buy trade, follow the N pattern (let the price run above the level, let it retraces back to the level and...
Is MCX crude oil downtrend a trap? According to the Elliott Wave analysis on the crude oil daily chart, it has completed wave (4) and trying to move out from the Parallel channel’s (PC) control line (CL). If that successfully remains above CL, crude oil prices will hike from CL to the resistance line of the PC. That’s a direct call for target levels of 7800 –...
Crude oil is forming impulsive waves ((5)). After the completion of wave ((3)), the price had started complex running flat of the corrective wave ((4)). Wave B has crossed the high of wave ((3)), but wave B couldn't break the low of wave A. Price has made a failure of swing low, which was a rejection of a downtrend, and crude oil gained momentum. Price has...
Price had made extreme low at 795 on 20 Apr '20. It had started a quick recovery after an inviolable bottom-out. Due to bearish sentiments and no evidence of the verified bottom, It had constructed 2nd wave correction. The second wave retraced 38.2% of wave 1, which indicates a sturdy bull trend is ahead! The acceleration phase lasted for 246 days and, the...
At present Crude Oil on MCX is trading around 6210 with a day low of ₹ 6197 and made a high of ₹ 6244. Crude oil remained under pressure this week globally. If we talk on technical side, Crude Oil was running in a fixed channel since Septmber 2021, but on October 27th 2021, it closed below support line and yesterday on 28th Oct, it opened at 6180 with a gap...
MCX - Fresh Breakout. Buy-Above 1890 Sl-1800 Target - 2000 2200 2500
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...
MCX Crude Oil Intraday trading level for 14SEP2021
MCX Crude oil can go down for a retracement value of 0.236 in the upcoming days. So, intraday traders can set the following targets to make some money: 4560 - 4500 - 4460 - 4400 But, if brent oil breaks $66.60 upside, then change your position for the following targets: 4800 - 4880+ Refer to the recently published NYMEX Brent Oil Futures article:
Buy crude oil at 3807 Stop loss 3785 Target 2905
Buy crude oil at 3834 Stop loss 3820 Target 3870
Sell crude oil at 3900 Stop loss at 3920 Target 3847 / 3821
Sell crude oil at 3935 Stop loss at 3950 Target 3875
Buy crude oil at 3821 Stop loss 3809 Target 3880
MCX crude oil has made the bullish Elliott wave on the 4H time frame. The fifth wave is remaining, and the trend has to cross 3900 - 4000 - 4040 to complete the fifth wave. Then the trend will fall for a short time to make the A of the ABC correction. After that, it will rise again to a particular level to make the B, and then fall again for a short time to...
crude oil sell at 3870 stop loss 3894 Target 3765