Oil
crudeoil - At important levelPrice trading near the resistance level and if the price closes above the resistance levels then one can expect big up movement. Wait for the opportunity.
Brent oil seeks fresh buying but $65.00 probes buyersBrent oil’s bounce-off early February low has a bumpy road ahead as 200-SMA joins the previous support line from February 19 to challenge the commodity buyers around $65.00. Even if the black-gold prices conquer the $65.00 hurdle, March 10 low and February 25 top, respectively around $67.00 and $67.70 could test the oil bulls. It should also be noted that bearish MACD suggests further hardships for the commodity’s corrective pullback.
Meanwhile, six-week-old horizontal support around $61.85 restricts the quote’s immediate downside ahead of 61.8% Fibonacci retracement level near $61.00 and the $60.00 psychological magnet. If at all the oil bears dominate past-$60.00, the late January tops surrounding $56.00 may return to the chart. Overall, oil bears are likely rolling up their sleeves to consolidate the latest run-up.
MCX Crude Oil In-depth Analysis & TipsMCX 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:
NYMEX Brent Oil Futures - Simple Trading StrategyHere, I have used MA , RSI , VOL , & DMI to identify the next move of Brent Oil. According to those indicators, it seems bullish ahead. We may see the following targets soon: $68.8 - $69.8 - $71+
But, if brent crude oil breaks the hurdle ( $66.60 ) and shows a closing price below it, we will see a heavy downfall. Targets: $64.6 - $62.8 and below
CRUDEOIL Futures, a quite favorable intraday tradeThe Crude Oil Futures have taken a beating for quite some time now, and it is time for quick recovery.
The descending triangle is making a base around very very strong support at 4250. If the price moves sideways or breaks the downtrend, we can keep the SL as on the chart and go for the targets mentioned on the chart. When you trail, always keep your trailing SL at the previous target -30 points and trail.
Happy Investing!
CRUDEOIL --THE ELLIOTWAVE PERSPECTIVE IN QUESTIONBIGGER PICTURE OF CRUDE OIL ---- AS PER ELLIOT WAVE
Crude oil has been in corrective mode since July 2008.
I had 4 hurdles for crude oil to breach itself to go towards its life time peak...By the time I m posting this...its already through with the 3rd hurdle...
CASE 1:
If crude oil unfolds into motive wave sequence(1-2-3-4-5) and also breaches key level for bulls and bears...It may result in positive structure for crude oil...Bulls will be more confident then on...But this scenario is not good for economies importing crude oil...
CASE 2:
If crude oil fails to breach the key level for bulls and bears... bears may start smelling honey in crude 😀😁😉
As of now bull party🚀 is on...
BPCL Highest Closing Of 7 Months (30 Weeks, 210 Days)Buy Bpcl At Cmp 449.85 & On Dips To 430-435
Strict SL - 417 (DCB)
Target - 481/500/525+++
CRUDEOILOn the verge of breaking the support
Sell on break of support with volume & pullback (below 4625 only)
Intraday setup for 15marchPetronet trading close to its hourly strong support... Buy between 236-237 for Target 242/245 with stop loss 234
Risk /Reward=1:2.5....notice-Rsi indicator also gets reversed from the level of 30 on 4hours chart,((short term target 254/258 with same stop loss...time 10-12 days max)).. This is my personal view and does not guarantee any success, so pls do your own research before you actually trade in this particular stock tomorrow
BuyBuy crude with sl below 4610 for targe tof 5200 and 5330.
Crude has made higher high. Trading abv all EMA. Gap up opening abv resistance is positive
Disc : it's not an investment advice to buy or sell
Brent oil bulls confront key hurdle around $72.00Having failed to conquer $72.00 during early 2020, Brent bulls again confront the key hurdle comprising 78.6% Fibonacci retracement level of October 2018 to April 2020 south-run. Although fundamentals are favoring the black-gold buyers, overbought RSI and the strong upside resistance challenge the commodity’s further upside around $72.20. If at all, the bulls conquer the same, April 2019 peak surrounding $75.50-60 can validate the run-up to the late-2018 top near $87.00.
Meanwhile, the $70.00 psychological magnet can offer immediate support to the energy benchmark before recalling the mid-February lows close to $62.00. It should, however, be noted that the oil bulls should remain hopeful unless the quote drops below 61.8% Fibonacci retracement and 200-week SMA area near $60-59.00. Following that, the bottoms marked during January 18 and 22, 2021, close to $54.50, will be in the spotlight.
