Crudeoil Double Top Pattern Crudeoil heading for doubletop pattern might consolidate between 6500 5360 .. 1st tgt 6980/2nd 7180
Crude Oil WTI
Crude oil LongCrude oil Long
Buy at CMP- 6115
SL- 6071
Target- 6183, 6231, 6311
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Charts and views are only for educational purpose.
Crude Oil | Head & Shoulder PatternAfter a long rally and a series of higher highs & higher lows we are seeing Head & Shoulder pattern at the top of chart in CRUDE suggesting some correction in prices. MACD has also shown divergence, untill the price stays below neckline of the pattern we can see more decline in prices of Crude till 5900 to 5700. Break of the neckline and right shoulder will invalidate the pattern.
MCS Crude Oil Technical AnalysisAt present Crude Oil on MCX is trading around 6210 with a day low of ₹ 6197 and made a high of ₹ 6244. Crude oil remained under pressure this week globally.
If we talk on technical side, Crude Oil was running in a fixed channel since Septmber 2021, but on October 27th 2021, it closed below support line and yesterday on 28th Oct, it opened at 6180 with a gap opening of almost 200 points down from its previous day's high.
OPPORTUNITY
You can short crude oil around 6240 today with a stop loss of ₹ 6336 for a taget of ₹ 6065-5990.
Sell Signal at MCX Crude oil FuturesToday Sell Signal generated at MCX Crude Oil in the range 6360-6380. Long position holders check your positions.
MCX Crude OilCrude Oil is running in channel since septmber, we many time initiated purchases near support lines but avoided short selling as Crude is in Bull cycle. We suggested you to buy near 6200 on 22nd Oct for a target of Rs 6500 which you may see tomorrow.
In a few days crude may give another signal either for long or short position.
We may soon see a trend reversal signal in crude oil. Stay connected with us for more updates.
MCX CRUDE OIL TRADING STRETAGYCrude oil is running in a channel.
Crude oil is moving in a fixed channel. If you get a chance to buy near support line go for long in crude oil, as mentioned in earlier blogs we are bullish on crude oil untill it achieves a target of ₹ 6500.
Do follow our stop loss stretagy.
USOIL SHORT * 1.272 ABCD
* 1.414 ABCD
* 1.414 XABCD
* hammer candle on daily
* Divergence on 4 HR
* double top in formation
* higher oil inventories
* RSI overbought on daily
* 83$ strong support became resistance from 2012
#Crudeoil Oct Short#Crudeoil Oct Short
Sell at CMP- 6090
SL- 6124
Target- 6005, 5970, 5925
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Disclaimer- We are not SEBI registered advisor.
Charts and views are only for educational purpose.
Crude View for crude
Can buy 6100ce looks good for tomorrow can reach 6200+ in future
Risk reward is more than 1:1.5
crude oil major breakout on monthly candle chartTVC:UKOIL crude oil chart has shown major breakout on monthly chart which represent long term bullishness in crude oil.
CRUDE OIL TREND ANALYSISTECHNICAL 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 July 2021 ( shown in blue colour in graph) confirm the double top pattern with a resistant of ₹ 5600.
On October 4th 2021, it gave closing at ₹ 5825 (above its major support of ₹ 5600) for the first time after Oct 2018 that confirmed the upward moment of crude oil.
CONCLUSION
We do not suggest you to make any fresh short position in crude oil at this level. However, making any long position at this level would also be very risk as the prices are not certain at this level, however levels around ₹ 6500 can be seen very soon in crude oil on mcx.
Crude Going StrongCrudeoil is on a strong uptrend. Good buy on a dip on daily charts. COT Data still strong. Comments on chart
CRUDE OIL RETEST GO FOR LONGMX: CRUDEOIL1!
crude oil break resistance and take retest support go for long
Cyclic correction on Natural GasNatural gas range is default range is elevated to 3$, hence we can expect the same 3$ level from the current levels, patience is the key. Take calculated risk after deep analysis. as the liquidity is low at higher levels repeated Sl hunting will happen.Trade with cautious
XTIUSD will now start Falling!The XTIUSD has formed a very clear DOUBLE TOP pattern and is now expected to go through a reversal. According to our analysis, it will start moving downward and our next target will be 69.4.
Happy Trading guys.
CRUDE Buy levels...04.10.2021 ( 1hr candle) Crude breaks the trend line in up side, once its breaks previous resistance(5675) it will move on 5750-800
us oil sell setup foundus oil sell setup found with channel trading and market is lying on strong resistance
USOIL Sell Setup Foundwe found sell setup senerio for usoil o we can say wti right,
so in this us oil technical analysis , i have shared my 4 to 5 scenrio in which i can see for selling pressure for us oil
