Going long with Crude Oil MiniFuture contract of MCX:CRUDEOILMJ2023 looks bullish as of now, going long at the current market price of 5817, my stop loss is at 5782 and target at 5902.
Crude Oil WTI
MCX Crude future analysisLet's do a multi time frame analysis of Crude chart.
On monthly time frame Crude seems to be running in a parallel channel, except that it has given two outliers outside it. It first broke down the channel during Covid to make a new low and then during Ukraine Russia crisis it broke out of the channel to make a new high.
On weekly time frame, crude made a double top with rising wedge formation and broke down and since then it is in downtrend where every rise has been sold off and finally it entered back in the same channel during August'22 and since then it has been facing resistance at the top of the channel. Current chart formation indicate that it is making a inverted flag & pole kind of formation and has given a breakdown of the lower trendline with double top formation.
On daily time frame, pattern indicates that it recently made a triple top at the previous resistance / breakdown level of 6780, with immediate support placed around 6000/5800, and if it starts sustaining below it - there is possibility that crude may melt more.
On 4 hour time frame, it is making a rounding top and breakdown of the same can take crude to around 5200 levels, pattern target - which is also near about bottom of the channel support placed on monthly time frame.
Crude oil Futures at support Crude oil Futures at support
Currently at support levels of the downward moving triangle. Expecting some short upmove in near term of 6480.
No recommendations, just my view based on charts.
Crude on Weekly Support $65/$64 Zone - Make or Break LevelCrude on Weekly Support $65/$64 Zone - Make or Break Level
If sustains $ 64 can give good reversal
crudeoil crudeoil at this week low if it breaks down and retest at this week low after a break down then we may see a fast move towards downside where we may have a scalping
opportunity
Will Crudeoil reverses and go Uptrend?#mcx #crudeoilWill Crudeoil reverses and go Uptrend? check #tradingstrategy #crudeoiltoday #commodity
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NOTE: Published Ideas are for ‘’EDUCATIONAL PURPOSE ONLY’’ trade at your own risk.
NOTE: RESPECT The risk. SL should not be more than 2% of the capital.
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IS Crudeoil going Bearish ?Breakout in 4 Hours chart.#commodity, #crudeoil
the breakout happened from the symmetrical triangle, the price oscillates between two trend line, one is the resistance trend line and the other is the support trendline. the breakout happened on the downside. before consolidation, there is a downtrend movement of about 20 points until consolidation, so as per the symmetrical breakout, we can expect the target of about 20 points. But we can't able to expect 20 point downside. instead max we can expect the target upto 68.5
Will Crudeoil reverses and go Uptrend? check #tradingstrategy #Will Crudeoil reverses and go Uptrend? check #tradingstrategy #crudeoiltoday #commodity
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If yes, Hit like button or boost our ideas. Thank you.
NOTE: Published Ideas are for ‘’EDUCATIONAL PURPOSE ONLY’’ trade at your own risk.
NOTE: RESPECT The risk. SL should not be more than 2% of the capital.
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usoil BuyCAPITALCOM:OIL_CRUDE
USoil is at good support area and if it breaks we can go for sell side or if it breaks the trend line then we can plan for buying side, plan your trade accordingly.
did u see crude melt down low made 5570 enjoyeddd sell gvn 5980 did u see crude melt down low made 5570 enjoyeddd sell gvn 5980 or 5800 blw still looks more dwn fall any rise sell onlyy gvn as trend line base dont stuck wrong side
crude close blw 70$or mcx 5800 for 2 days soon 5470--5200crude close blw 70$or mcx 5800 for 2 days soon 5470--5200 yes sell on rise must sl will be trade hrssss yes cme crude soo 62$++ expect as per chart pattern or trend line breakout
crude rockedd hit 70$ mcx 5800 sold gvn 6200 or 75$crude rockedd hit 70$ mcx 5800 sold gvn 6200 or 75$---- soon it will hit 5500 --5200 have patience selll onlyyyyyyyyyyyyyyy any rise soon will more dwn
usoil BuyTVC:USOIL
USOIL is in range bound and now it is rejecting at Strong support level here we can plan for buying side, plan your trade accordingly
sell crude spot blw 74.80$ sl 75.77 tgt 74.10-73$sell crude spot blw 74.80$ sl 75.77 tgt 74.10-73$ as per chart pattern
Crudeoil reversal zones 6-3-2023Note: 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. Or can take entry based on one 5 min candle close below or above the zone with SL previous candles high or low (*try to avoid big candles).
(Color code for Support & Resistance zones: Red - Sell, Green - Buy, Price once cross above resistance it is obvious it will work as support, vis versa price cross below support zone ). Please understand that market can break all the support and resistance anytime. If any doubt for take entry in price action patterns, please ask in comment box, i will try to help.
Disclaimer: Im not tip provider and this chart is not indented to take trade in my levels, It is shared here for learning purpose. Trading in this pattern is all your own risk. #crudeoil
Crude Oil 5min TF analysisHey guys welcome back to Nifty Scalper. here in this video we will be talking about crude oil which is nothing but us oil . I have a 5 minute timeframe analysis on crude oil . You can trade as per our plan but remember you have to use stop losses on every trade.
I hope you like my analysis and if you like you can follow me. I will be updating charts like same for crude oil gold and even for Indian index charts thank you guys see you in the next video.
Crude Oil min TF analysis Hey guys welcome back to Nifty Scalper. here in this video we will be talking about crude oil which is nothing but us oil. I have a 5 minute timeframe analysis on crude oil. You can trade as per our plan but remember you have to use top losses on every trade. Crude oil can give a big rally with the upside momentum or it can give a breakdown with the specific target because the train is upside. I hope you like my analysis and if you like you can follow me I will be updating charts like same for crude oil gold and even for Indian index charts thank you guys see you in the next video.
CRUDEOILCRUDEOIL - MCX
Study on Daily Chart
1. M- Pattern
2. Inverted Head and Shoulder Pattern
This chart is only for educational purpose . Do your own study before taking any trades
#Crudeoil Upward movement potential with RISK:reward=3 #usoil #commodity #commoditytrading , #NASDAQ, #crudeoil, @crudeoil #USOIL
#USOIL UPWARD movement potential with risk: reward ratio 3.
BUY at 79.5 with SL 78.28 and Target is 83
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NOTE: Published Ideas are for ‘’EDUCATIONAL PURPOSE ONLY’’ trade at your own risk.
NOTE: RESPECT The risk. SL should not be more than 2% of the capital.
Happy Trading
ITS time for oil that is crude oil For a short periods of time
crude oil is getting ready to go up
There was a fall in crude from jun/07/22
And after a fall it was in consolidation
from nov/23/22 till feb/03/23
Now oil gives a Breakout
for a short period of time for
Retrech the important level
keep an eye on crude
for short periods
just a view
Crude - hourlyCrude on hourly time frame is at supply zone and can possibly go down from here. Tracking it ....
Crudeoil reversal zones 3-3-2023Note: 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. Or can take entry based on one 5 min candle close below or above the zone with SL previous candles high or low (*try to avoid big candles).
(Color code for Support & Resistance zones: Red - Sell, Green - Buy, Price once cross above resistance it is obvious it will work as support, vis versa price cross below support zone ). Please understand that market can break all the support and resistance anytime. If any doubt for take entry in price action patterns, please ask in comment box, i will try to help.
Disclaimer: Im not tip provider and this chart is not indented to take trade in my levels, It is shared here for learning purpose. Trading in this pattern is all your own risk. #crudeoil
usoil BuyCAPITALCOM:OIL_CRUDE
US_OIL is in good resistance with multiple rejections at 77.75 level and it is the major level.
If it breaks the price and retest the same level then we can go for long position.
