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Oil

Brent oil buyers can ignore pullback towards monthly supportBrent oil consolidation the early week’s oversold RSI conditions while dropping back below $78.00 on Wednesday. However, an ascending support line from August 23 and 100-SMA, respectively around $76.70 and $75.00, will challenge the quote’s further weakness. Even if the British oil benchmark drops below $75.00, a horizontal line comprising multiple levels marked since August 30, near $73.50 will challenge the bears. On the contrary, the corrective pullback will gain momentum beyond $79.00, targeting the $80.00. During the black gold’s further upside past $80.00, the May 2018 peak near $81.00 can offer an intermediate halt during the run-up to the three-year high of $86.95. It’s worth noting that a clear upside break of the $87.00 will be an end to the bear’s reign.
TVC:UKOILLong
by MTradingGlobal
I have taken long position on OILI took trade-in OIL on 17th Sept 2021. My entry was near 197.60 as (197.60 to190) is a demand zone for this stock. Given the current global scenario, I am a bit worried, but as a trader, emotion is the first thing you should have control over. My entry-197.60 My Stop loss- 190 My 1st target- 205 (1:1) My 2nd Target- 213 (1:2) Please note that: Once my 1:1 is hit, I trail my Sl to my entry point. I will update once Sl or Target is hit. WARNING: THESE ARE MY PERSONAL VIEWS AND NOT TRADING RECOMMENDATIONS, I AM NOT RESPONSIBLE FOR ANY LOSS TAKEN ON MY VIEWS.
NSE:OILLong
by Chankya
Will Crude Oil Hit 5400 Next Weekend?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 investors and intraday traders? If you look into 4 hours chart, it seems bullish from here. Crude oil is trying to break the resistance trendline. Whenever that the resistance trendline break, then we may see the prices at 5300 - 5400+ . Kindly note, if crude oil remains below to resistance trendline, then do not buy. What happens if it does not break the resistance trendline? I will update my next MCX crude oil report.
MCX:CRUDEOIL1!Long
by freestocktips
3
Brent Crude OilBrent crude oil has broken the trendline resistance and it looks like primary wave 5 has started, and within wave 5 , wave I and wave II are posiibly been completed and wave III should now unfold at $ 79.40 to $ 80.21, where wave III will be atleast equal to wave I, and on the down, the swing low of $ 70.89 will be now crucial support. one can go long at current levels or in dips (hopefully) with stoploss of $ 70.89 wave structure key levels macd in daily is positive, uptick and above zero line rsi in daily is positive, uptick and also near 60 price tooked support from middle bollinger and now its above same on weekly chart dmi is converging from negative to positive Disclaimer I am not sebi registered analyst My studies are for educational purpose only Consult your financial advisor before trading or investing
TVC:UKOILLong
by RK_Chaarts
1