Crude Oil Again Testing the Crucial 50-52 Zone/Area.
If it fails to break UP here, it could well be formation of Triple TOP.
With COT Commercials Starting to turn Weak this may well happen.
But i am not in a hurry to Jump to Conclusions.
I will be interested in this market ONLY if
Either it starts closing above 52 on Daily Charts (For LONG) OR
it Starts closing...
USOIL looking out to break the strong resistance of 51.65 level. Once if the price break the 51.65 level the further uptrend may come upto 61.15 level.
It's a short term recommendation.
Buy above = 51.70
Target 1 = 56.60
Target 2 = 61.05
Stop Loss = 45.00
Total Reward Points = 9.35
Risk Points = 6.7
CL1 watchout again, yesterday from 47.80 it made 49.20 till now and came back now again to that level @47.80. Now what?
Now as CL1 is giving a negative breakout so if it breaks 47.70 then we can see a downfall upto 47.45/47.10, on the upside it should not break 47.90
An inversely related stock price action to index has witnessed a strong rally of ~40% since March 2016. After a small pause (consolidation), the price are showing sign of breakout. Looking at the RSI (Relative Strength Index), the breakout from falling trendline and bullish crossover on MACD indicates price is ready for the rally towards 460-500.
B2C- (B2C) is a business or transactions conducted directly between a company and consumers who are the end-users of its products or services. Yes, Isn't that lucrative for end users why because products reach directly to the consumers - no middleman- no obstructions- no resistance & crude travels b2c from 43$ to 52$ with a double bottom- an important lesson from...
Being Major Trend is down crude oil futures is all set to re-trace it's up move.
So one can Short Around 45.70 and Above keeping a Stoploss level @ 46.50 to 46.60
For Target 44.25$ to 43 $
This is a short to medium term Trade
CL1! has been trading in rising channel pattern. The prices have tested the lower band and moving northwards. The minor hurdle (black dashed line) at $46.50 if cleared by Bulls (on closing), we might head towards $54-58.
Triangle formation of BPCL in 15mins chart and it may break either side.
Hurdle for long - EMA 50 lying above the price and it will act as a Resistance.
Other indicators like MACD, Stochastic and RSI looking bullish.
No trade until the price break the triangle.