Fundamental Development: Oil prices bounced higher from multi-month lows on Monday as investors' appetite improved following data on U.S. jobs and Chinese exports data that eased recession concerns. Brent crude futures had risen 81 cents, or 0.9%, to $95.73 a barrel. U.S. West Texas Intermediate crude was at $89.76 a barrel, up 75 cents, or 0.8%. Both contracts...
Hello and welcome to this analysis on MCX Crude Oil.
The overall structure of sideways consolidation now appears to be set for a rally which could break the falling trend line.
Expecting it to bounce back to 8400 as long as it does not break below 7500
BUY : 239 TO 211
FIRST TARGET : 330
Reason For Buying This Script :
In this script it is forming inverted head & shoulder patter in monthly time frame . Now the price is in right shoulder. Once the price close above 330 in monthly time frame and the next target 489. It has good potential to go life time high. Try to accumulate in lower levels.
Note...
Fundamental Development: Oil prices edged higher on Thursday after dipping in early Asian trade, as concerns about global supply tightness outweighed a build in U.S. gasoline and distillate inventories. Brent crude futures for September, the more actively traded contract, rose 63 cents, or 0.6%, to $113.08 a barrel .The less liquidity traded August contract, which...
Fundamental Development After hitting seven-week highs, oil prices slumped 2% on Tuesday as Reuters reported that the United States could ease some restrictions on Venezuela's government, raising hopes that the market could see some additional supplies. Prices also fell after Federal Reserve Chairman Jerome Powell warned the economy could hurt by attempts to...
Fundamental Development: Fundamental Development: Oil was up on Friday morning in Asia, but ongoing COVID-19 lock downs dampened fuel demand in China ahead of a long holiday. However, supply disruption fears as Western sanctions impact crude and product exports from Russia underpinned prices. Brent oil futures rose 0.82% to $108.14 after jumping 2.1% during the...
Fundamental Development: Oil prices extended gains in early Asian trade on Wednesday amid simmering geopolitical tensions as Russia cut gas supplies to Poland, while hopes of Chinese economic stimulus buoyed the demand outlook. Brent crude futures rose 44 cents, or 0.4%, to $105.43 a barrel. U.S. West Texas Intermediate crude futures gained 12 cents, or 0.1%, to...
Global crude oil prices have risen more than 14 percent in the past 30 days as traders see a continued rise in demand and supply fails to keep up. The 400,000 barrel per day output hike recently decided by Oil and Petroleum Exporting Countries is not expected to meaningfully bridge the gap between demand and supply.
TECHNICAL ANALYSIS
Crude oil has touched...
Hi
So here we are again so we will again long Indian Oil Corporation with amazing Risk Reward Ratio. And It will also provide dividend of Rs.4 with Ex date of 9th Febuary. So I will recommend buying or if you already bought it then please don't sell it. Thanks and make sure to follow and like the post.
Bye
Crude Oil is hovering around 6030 on MCX.
Sell crude Oil around 6030 for a target of 5800.
We are not responsible for any loss or even porfits you incurr on our suggestions.
Charts and views are only for educational purpose.
TECHNICAL ANALYSIS
In October 2018, Crude Oil prices touched the level of ₹ 5600 on MCX but after that they sharply fall to ₹ 3000 same year in December.
Further last year during the lockdown crude oil fell to ₹ 1100 on MCX in April 2020 and rose to ₹ 5600 this year in July 2021.
Journey from ₹ 5600 in Oct 2018 to ₹ 3000 in April 2020 and again to ₹ 5600 in...
Midterm forecast:
54.40 is a major support, while this level is not broken, the Midterm wave will be uptrend.
Technical analysis:
While the RSI uptrend #1 is not broken, bullish wave in price would continue.
A peak is formed in daily chart at 64.83 on 02/18/2021, so more losses to support(s) 58.65 and minimum to Major Support (54.40) is expected.
Price is...
Midterm forecast:
51.60 is a major support, while this level is not broken, the Midterm wave will be uptrend.
Technical analysis:
While the RSI uptrend #1 is not broken, bullish wave in price would continue.
A trough is formed in daily chart at 51.60 on 02/01/2021, so more gains to resistance(s) 63.10, 66.50, 72.55 and more heights is expected.
Price is above...
Midterm forecast:
54.40 is a major support, while this level is not broken, the Midterm wave will be uptrend.
Technical analysis:
While the RSI uptrend #1 is not broken, bullish wave in price would continue.
A trough is formed in daily chart at 54.40 on 02/01/2021, so more gains to resistance(s) 62.30, 66.05, 70.35 and more heights is expected.
Price is above...
