#USOIL waiting for retracement and Price trading in nearby 4hr support area and waiting for bullish candlesticks formed it will take entry for above the bullish candlestick and it will go for the next level of resistance
Why we like it:
Price is trading in nearby 4hr support area
Waiting for bullish candlesticks formed
possible to move the next resistance...
The markets are falling down because of increased fear of recession. Recession affects everything, be it stocks or commodities like CRUDEOIL, NATURALGAS, SILVER, GOLD etc.
Energy sector fell drastically yesterday. Crude Oil fell about 11% whereas Natural Gas fell about 6%.
Crude Oil has a strong supply zone around 9300 according to the monthly timeframe from...
Supports: 6500, 6325
Resistance: 6680, 6750
15th Dec Expiry OI Data Point:
Major Call writing are in:
6800 : 2K
7000: 6.5K
7100: 2K
Major Put writings are in:
6600: 1680
6500: 3400
Crude oil is looking Bullish ahead Reasons are mentioned below
Inverted head n shoulder Neckline Breakout
Price taking support from RK's Mass psychological cloud and RK's stopline in daily time frame
Possible wave counts on weekly chart
Possible wave counts on Daily chart
Possible wave counts on 4 hourly
Possible wave counts on 1 hourly
Price...
Crude oil is currently trading in a range between 6000 and 6100. If it crosses that threshold, it will reach 6200, 6300, or 6500. If it drops the 6000 barriers and holds it, it will hit 5800-5700 -5500 in the coming days.
It is Bullish Buttrfly pattern seen crudeoil daily tf can give good reversal from 5906 zone marked in the chart.
Note: Always try to find a good price action patterns or any candle stick patterns in marked zones in smaller timeframe to take entry with small stop loss. If you follow diagonal trendlines you can take entry and exit easily.
(Color code for...
#USOIL for Price trading the 4hr resistance area and waiting for bearish candlestick formation in resistance area and the next candle close below the previous candle its will move to the next level support
Why we like it
Price trading the 4hr resistance
moving to the next level support
waiting for bearish candlestick formation
Trading in channel
1st...
Oil Price is expected to average at around $92 within a few weeks. Then depending on the global cues at that time we can have a much clear idea about whether it is going to rally further or crash.
This is going to affect the profitability of the oil stocks in India and will affect their share price adversely.
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#USOIL for Price trading the 4hr resistance area and waiting for bearish candlestick formation in resistance area and the next candle close below the previous candle its will move to the next level support
Why we like it
Price trading the 4hr resistance
moving to the next level support
waiting for bearish candlestick formation
Trading in channel
1st...
WTI has been forming a flat A-B-C correction.
According to Elliott's wave projection, the oil future looks bearish.
Oil Future has accomplished wave A at 193.17 , and sub-wave (c) of wave ((B)) is creating an ending diagonal.
The ending diagonal is a formation of five waves. WTI is to occur in wave 5 of an ending diagonal.
If you are a safe trader, you can...
#USOIL for Price trading the 4hr resistance area and waiting for bearish candlestick formation in resistance area and the next candle close below the previous candle its will move to the next level support
Why we like it
Price trading the 4hr resistance
moving to the next level support
waiting for bearish candlestick formation
Trading in channel
1st...
Crude Long (25 Nov)
RSI- 35
Buy at CMP- 6450
SL- 6405
Target- 6552, 6605
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Disclaimer- We are not SEBI registered advisor.
Charts and views are only for educational purpose.
#USOIL for Price trading the 4hr resistance area and waiting for bearish candlestick formation in resistance area and the next candle close below the previous candle its will move to the next level support
Why we like it
Price trading the 4hr resistance
moving to the next level support
waiting for bearish candlestick formation
Trading in channel
1st...
User rise towards 7300-7350 to short with SL above 7550 for target 6300.
Disc : It's not a recommendation to buy or sell. Do you research before taking any decision.
