- The weekly outlook for UK Oil looks very positive and promising
- The base is getting matured on the weekly whereas the Daily base has already matured
- As of now waiting for the base to form and enter once you see a low getting taken out by huge demand
- My Bias over this is straight bullish and nothing else to consider
Eliot Channel. (trade with wave C)
Oil has completed the corrective ABC wave and continues its down to 65.xx
People can short sell on a downtrend. good luck.
Mr Jun.
📈 Exciting Bullish Pattern Alert
📊 Pattern: Base Building
📌 Symbol/Asset: UK OIL
🔍 Description: The target of multiple patterns is pending, stock bounced back from solid support. Future & Options segment stock.
👉 Remember: Technical patterns are just one piece of the puzzle. Consider conducting further research, consulting with a financial advisor, and...
US oil has broken its major downtrend line and is managing to test and sustain above the supports , is buy on every dips untill it stays above 70$ levels , keep SL very small at 60$ , any monthly candle closing below 70$ is an exit from trade , RR looking great and potential reward on the upside is very high
Attached: Crude Oil Daily Live Market Chart
On Sunday 2nd April 2023, Saudi Arabia and other OPEC+ oil producers announced further oil output cuts of around 1.16 million barrels per day.
Top OPEC producer Saudi Arabia said it would cut output by 500,000 bpd.
And due to this Surprise Output Cut, the Next Day itself Oil Prices Gapped Up and Closed Up 6.16% (+ 4.66...
Expecting to create accumulation cycle and is going to break up to weekly distribution trend
on the bottom side weekly trend was hit and held. Long term daily downtrend is distributing. Now weekly uptrend is held and trying to create long term accumulation cycle. Long term target might be 91. But we might once again retest 77 price level which 85 level can hold...
crude oil has been in parallel channel since Dec 2008
based on Oct 2021 monthly closing we may expect a trendline BO in crude oil. Expect your petrol price to rise accordingly
The short-mid term low for UKOil seems formed and may test upper levels in coming sessions until green support line is intact on lower side.
To motivate us, Please like the idea If you agree with the analysis.
Happy Trading!
InvestPro India Team
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
After huge rally it seems that UKOIL which was stuck in range where
distribution took place, can break the range down.
This rally was indicated by me when Brent was 94, have a look:
But, now it looks like the rally is over and it could start stepping down.
Also, it has given a breakdown from head & shoulder pattern and
along with this UKOIL has also broke...
MCX:CRUDEOIL1!
Trade Setup for 04-07-2022
1) Don't Jump in to trade at the beginning of the market. Let it get settle for 15-20min first and judge the price action.
2) Everything is mentioned on the chart. I hope it is easy to understand.
3) All the levels will work as support, resistance, entry and exit w.r.t price action near that level.
4) Avoid gap up...
CRUDE OIL Looking good to go long at current levels or in dips ( if any ), there is a good and clear assumptions of wave structure along with trendline breakout on daily time frame.
Price again closed above mass psycology cloud, and also above RK's stop line and also price has given close above 20DMA, also trend indicator macd is showing same bias to go long.
On...
TVC:UKOIL
UK Brent Oil can retest or break 102$ per barrel in short term.
Ukraine And Russian Crisis cool off can make oil cheaper.
Trade on your own risk and analysis.
![CRUDEOIL1!: Simple Trade Setup | Crude Oil | 04-07-2022 [INTRADAY]](https://s3.tradingview.com/i/IVlvfjty_mid.png "Simple Trade Setup | Crude Oil | 04-07-2022 [INTRADAY]")
