US CRUDE oil paused near important fib ratio 50% & 61.8% near $116
if sustains above $116 than will see move towards $130
currently wave 2 (c) consolidation going on....
no shorting will be recommended till it is above $100
views are educational
WTI_crude oil uptrend martingale by Daily RTL & Daily STL.
May taste 89.02 - 87.40 (Demand Zone) levels OR it may blast by taking support on Daily STL + Daily DZ.
crude oil reversed from supply zone near $79
and intensified the selling pressure below our selling level $74
now downside demand zone is $67--$68... if broken than straight away $61
crude oil collapsed new Covid variant led to fears of renewed mobility restrictions, potentially hitting demand from the air travel market.
LEVELS are marked in the chart , These are the strong support and resistance in the upcoming market.
Double bottom in 30 mins timeframe
And as per the chart pattern the market has moved up.
Now it has hit the strong resistance at 4691, and its time for a reversal which is a
down rally.
We also need to check the inventory release for tmrw and involve in...
If price trades below $21.90, selling is advisable. Heavy sellers dominated from $26 to $20.77.
Then buyers were able to retrace only till $23.60 - the recent high.
Price is taking a dynamic resistance of 20 EMA - which is kind of strong trend indication.
First Opposing Force for this fall can be expected around $20.25 to $19.70; further price can test $18.60 as...
Trend Line reversal cum Hammer in 1 hr confirmed by green candle, buy btw 58.90-59.30 hold for 1 week target of 63.10..
stoploss point 58.20 on day closing..
