Crude Oil WTI
Crudeoil - Flag patternCrudeoil forming Flag pattern after a long waited Ascending triangle break. Its time for the price to break the channel and move forward in todays session.
WAVE C SETUP - WTI CRUDE OILVIEW:
Crude oil appears to be ripe for down move...
Structure/Pattern:
Impulse + correction ==> Impulse ==> wave c/wave 3?
Strong recovery possibleSome recovery seen post the crude oil inventory. The supports seen over the last two days seems to be fueling some upside. Repeated attempt to breach supports have proved futile. Now the pus to the upside is indicating possibilities of some rise in store.
Crude Oil Short ViewCrude Oil is likely to find resistance near 4500 - 4520
As shown in the chart it is currently trading in a downward sloping channel.
Till the time it is trading below 4620 there is a good chance we can achieve a target of 4100
crudeoil - At important levelPrice trading near the resistance level and if the price closes above the resistance levels then one can expect big up movement. Wait for the opportunity.
MCX Crude Oil In-depth Analysis & TipsMCX Crude oil can go down for a retracement value of 0.236 in the upcoming days. So, intraday traders can set the following targets to make some money: 4560 - 4500 - 4460 - 4400
But, if brent oil breaks $66.60 upside, then change your position for the following targets: 4800 - 4880+
Refer to the recently published NYMEX Brent Oil Futures article:
NYMEX Brent Oil Futures - Simple Trading StrategyHere, I have used MA , RSI , VOL , & DMI to identify the next move of Brent Oil. According to those indicators, it seems bullish ahead. We may see the following targets soon: $68.8 - $69.8 - $71+
But, if brent crude oil breaks the hurdle ( $66.60 ) and shows a closing price below it, we will see a heavy downfall. Targets: $64.6 - $62.8 and below
CRUDEOIL Futures, a quite favorable intraday tradeThe Crude Oil Futures have taken a beating for quite some time now, and it is time for quick recovery.
The descending triangle is making a base around very very strong support at 4250. If the price moves sideways or breaks the downtrend, we can keep the SL as on the chart and go for the targets mentioned on the chart. When you trail, always keep your trailing SL at the previous target -30 points and trail.
Happy Investing!
CRUDEOIL --THE ELLIOTWAVE PERSPECTIVE IN QUESTIONBIGGER PICTURE OF CRUDE OIL ---- AS PER ELLIOT WAVE
Crude oil has been in corrective mode since July 2008.
I had 4 hurdles for crude oil to breach itself to go towards its life time peak...By the time I m posting this...its already through with the 3rd hurdle...
CASE 1:
If crude oil unfolds into motive wave sequence(1-2-3-4-5) and also breaches key level for bulls and bears...It may result in positive structure for crude oil...Bulls will be more confident then on...But this scenario is not good for economies importing crude oil...
CASE 2:
If crude oil fails to breach the key level for bulls and bears... bears may start smelling honey in crude 😀😁😉
As of now bull party🚀 is on...
CRUDEOILOn the verge of breaking the support
Sell on break of support with volume & pullback (below 4625 only)
