USOil parallel pattern formation at 1 hour time frame
Midterm forecast: 46.50 is a major support, while this level is not broken, the Midterm wave will be uptrend. Technical analysis: The RSI downtrend #1 is broken, so the probability of continuation of uptrend is increased. A trough is formed in daily chart at 42.70 on 11/13/2020, so more gains to resistance(s) 48.95, 54.40, 58.65 and more heights is...
Crude levels ...30/11/2020 (1hr candle)
Did you read my 23 Nov report on crude oil? Visit here: Identifying the Crude Oil Price Next Big Move I had written in bold words, " smart investors can buy for 3260 - 3300 - 3360 - 3400 levels ". Crude oil has touched the first three targets by making a high of 3376 levels. Per lot, we have made a profit of 150+ points ( Rs.15,000+ ).
Crude levels...25/11/2020 (1hr Candle)
Buy crude oil 3206 CMP 3212 Stop loss 3190 Target 3260 / 3303
Midterm forecast: While the price is below the resistance 43.75, beginning of downtrend is expected. We make sure when the support at 34.60 breaks. If the resistance at 43.75 is broken, the short-term forecast -beginning of downtrend- will be invalid. Technical analysis: While the RSI resistance #1 at 65 is not broken, the probability of price increase would...
Crude levels...23/11/2020 (1hr Candle)
Buy Crude oil at 3097 Stop loss 3087 Target 3149 / 3190 Have a happy trading
Sell crude oil 3116 Stop loss 3126 target 3046 / 3012
The previous suggested trade triggered the Stop. The subsequent action still fits into a correction and so we should still look forward to strong action to the downside. This will be a final wave down and is usually sharp. Look for a move that should take the issue down by about 20%. The earlier projections will now change as this now looks like a Flat correction...
$1.92 then $2.18 on to $2.68 where it likes to trade in limbo on consolidation. Once this blows past $2.68 it should run up to $3.69.
BPCL CMP 412.85 Resistance - 435, 545 Support - 370, 325 , 310 BPCL may give a news-based move tomorrow. Although stock already discounted earlier when Saudi Aramco declined to bid in the stock in its disinvestment, Govt closed the date for stake selling today and no major investor has shown any interest in bidding. We can again expect an immediate down-move...
Midterm forecast: While the price is below the resistance 46.50, beginning of downtrend is expected. We make sure when the support at 36.95 breaks. If the resistance at 46.50 is broken, the short-term forecast -beginning of downtrend- will be invalid. Technical analysis: While the RSI downtrend #1 is not broken, bearish wave in price would continue. A peak is...
Crude levels...16/11/2020 (1hr Candle)