Crude Oil WTI
Crude Oil Important Support and Resistance Level For 11-Oct-2023The Marked area's are major support and resistance level for Banknifty Intraday, also called PAM Areas.
When price come to these area we can expect either reversal or breakout from the given area's.
So planning a good trade will occur only in the marked areas, when price is in middle, we have to wait for the price comes to the marked PAM Areas
9th Oct ’23 - Israel's War changes sentiment - PostMortem NiftyNifty Analysis
Recap from yesterday: “For Monday, I wish to continue my neutral stance but keep my options open for bullish moves. The moment 19776 is tested and broken — we can expect further participation to take Nifty much ahead. For the bears to make a comeback — the US markets have to close in DEEP RED today.”
Nifty opened mega gap-down due to the shocking developments over the weekend. Israel declared it is in a state of war after Hamas fired rockets and took hostage Israeli citizens - source. No one was expecting this sharp reversal in global macro. In fact, US markets closed last Friday pretty strong.
Since I am not a Geo-political expert - I have no comments on what will happen, but the financial markets usually do not like uncertainty. The greatest risk right now is crude oil as the war is in the Middle East. If other countries join this battle - the risk of further escalation cannot be ruled out and the biggest victim could be the developing countries that import OIL.
Even though the chart may confuse you, we only fell 0.86% ~ 168pts in the opening 10mts and that was the low for the day. The recovery was sharp and decent and we made it up to the 61.8% retracement level. From there we started falling but gradually. There again the low set in the initial 10mts still untouched. I had to go short today - not just because the chart told me, but because I thought fundamentally the perceived risk could be much higher. Already our markets have outperformed the global peers - and this risk-on should have prompted the FIIs to pull out more money. We might have to wait for a few days for more clarity to emerge, so I thought to take some risks with some long PUT options.
The 1hr chart does not show a direction yet. If 19446 was taken out today - it would have shown bearishness - but it is neutral. For true bearishness 19350 or the recent swing low has to be taken out tomorrow. Well, I have a bearish bias because of the LONG PUT option - but the charts are not showing anything so far. If we bounce back from the 19446 level tomorrow also - I may be forced to close out the position at a loss. For tomorrow I would like to go with a 50% neutral and 50% bearish option. Nifty is not technically weak - it is the global macro that is weak. In the battle for technical analysis versus fundamental analysis - fundamental always wins especially when accompanied by strong news-flow.
CrudeOil Important Levels to watch ! CrudeOil important levels to watch are as follows
#Support: 6900
Sell below: 6900 only on 15 minute candle closure below the level.
Target 1: 6800
Target 2: 6680
#Resistance: 7000
Buy Above: only on 15 minute candle closure Above the level.
Target 1: 7065
Target 2: 7180
=> # Remember each level will act as a support and resistance individually so there is a probability of reversal and a pullback on either side so its better to make an habit to book profits at each targets and re-enter again after a breakout from the same with a proper stoploss as per your own risk appetite.
=> # Please do your own research before initiating any trade. Always use stoploss in order to protect your capital.
=> #If you are Unable to trade properly and dissatisfied with your manual trading results due to psychological disadvantages or busy schedule or "Fear & Greed" emotions, then Algorithmic trading can be the most useful solution to overcome such problems. Kindly follow us and join us using details mentioned below the idea.
=> # Please refer our swing based support and resistance indicator if you find it useful give it a like.
=> # Follow us for more such information and educational ideas and Indicators. Give it a like if you appreciate the idea. Queries will be answered in comment section.
#Disclaimer: This is just a view and published here only for educational purpose, this should not be considered as a buy or sell signal. Trading in stock market may involve financial risk therefore, do your own research before taking any position.
crude oil new update (previously even after the breakout we avoided to o=go long)
the recent pullback is the reaction of higher time frame inducement where price made a imbalance and didnt retest the resistance zone
so there 7195 - 7065 will act as short term support and it is also a fair value area from higher time frame
either price will retest this zone and then head towards 8000-8300 level
price tried to retest the zone twice but couldnt mitigated the area
still the area hold major buying interest because it has created a liqudity of new fresh long stop losses underneath
THIS IS JUST ANALYSIS, YET NO CLEAR PICTURE TO INITATE A TRADE
Crude Oil Analysis Decoded, A Learning JourneyHello Friends
Here we had shared Educational purpose case study of US Oil (Crude Oil) Technical Analysis, A Low-Risk, High-Reward Opportunity.
Welcome to this educational analysis of US Crude Oil (commonly known as Crude Oil). Today, we're exploring an intriguing opportunity in the world of technical analysis.
In the realm of wave analysis, we've identified an exciting prospect in the Crude Oil market. Let's break it down:
We've recently completed "wave 4," a significant corrective wave.
Now, it appears we're at the beginning of "wave 5," the final leg of the sequence.
The Potential
So, what's the potential here? Blue wave 5 has the characteristics of being an impulse wave, known for its strong and sustained price movement. In this case, we anticipate it could surpass the top of wave 3, which was at $94.99.
Risk-Reward Analysis
Now, let's talk about risk and reward. Here's where it gets interesting:
Risk
We've set an invalidation level at $87, which means if the price drops below this point, it suggests our analysis might not be on track.
Reward
If wave 5 plays out as expected, it has the potential to lead to significant price gains.
Characteristics of Wave 5
What makes wave 5 special?
It's typically marked by strong momentum, often accompanied by increased trading volumes.
Traders often find this phase exhilarating, as it can lead to substantial profits.
Risk-Reward Ratios
When considering this opportunity, the risk-reward ratio is a critical factor.
The risk, as mentioned, is if the price falls below $87, which is our invalidation point.
The reward potential is significant, with the possibility of surpassing $94.99, presenting an attractive risk-reward profile.
Conclusion
In conclusion, we've identified a low-risk, high-reward opportunity in the Crude Oil market, characterized by the unfolding wave 5. Remember, this analysis is for educational purposes only and should not be considered financial advice.
I am not Sebi registered analyst.
My studies are for educational purpose only.
Please Consult your financial advisor before trading or investing.
I am not responsible for any kinds of your profits and your losses.
Most investors treat trading as a hobby because they have a full-time job doing something else.
However, If you treat trading like a business, it will pay you like a business.
If you treat like a hobby, hobbies don't pay, they cost you...!
Hope this post is helpful to community
Thanks
RK💕
Disclaimer and Risk Warning.
The analysis and discussion provided on in.tradingview.com is intended for educational purposes only and should not be relied upon for trading decisions. RK_Charts is not an investment adviser and the information provided here should not be taken as professional investment advice. Before buying or selling any investments, securities, or precious metals, it is recommended that you conduct your own due diligence. RK_Charts does not share in your profits and will not take responsibility for any losses you may incur. So Please Consult your financial advisor before trading or investing.
CrudeOil Important Levels to watch !CrudeOil important levels to watch are as follows
#Support: 7460
Sell below: 7460 only on 15 minute candle closure below the level.
Target 1: 7420
Target 2: 7360
#Resistance: 7570
Buy Above: 7522 for scalping and buy above 7570 for directional trade only on 15 minute candle closure Above the level.
Target 1: 7650
Target 2: 7760
#Remember each level will act as a support and resistance individually so there is a probability of reversal on either side. Please do your own research before initiating any trade. Always keep stoploss in order to protect your capital.
Follow us for more such information and educational ideas. Give it a like if you appreciate the idea. Queries will be answered in comment section.
#If you are Unable to trade properly and dissatisfied with your manual trading results due to busy schedule or "Fear & Greed" emotions Algorithmic trading can be the most useful solution kindly follow us and join us using details mentioned below the idea.
#Disclaimer: This is just a view and published here only for educational purpose, this should not be considered as a buy or sell signal. Trading in stock market may involve financial risk therefore, do your own research before taking any position.
CrudeOil important levels to watch !
CrudeOil important levels to watch are as follows
#Support: 7460
Sell below: 7460 only on 15 minute candle closure below the level.
Target 1: 7400
Target 2: 7315
#Resistance: 7560
Buy Above: 7560 only on 15 minute candle closure Above the level.
Target 1: 7645
Target 2: 7740
#Remember each level will act as a support and resistance individually so there is a probability of reversal on either side. Please do your own research before initiating any trade. Always keep stoploss in order to protect your capital.
Follow us for more such information and educational ideas. Give it a like if you appreciate the idea. Queries will be answered in comment section.
#If you are Unable to trade properly and dissatisfied with your manual trading results due to busy schedule or "Fear & Greed" emotions Algorithmic trading can be the most useful solution kindly follow us and join us using details mentioned below the idea.
#Disclaimer: This is just a view and published here only for educational purpose, this should not be considered as a buy or sell signal. Trading in stock market may involve financial risk therefore, do your own research before taking any position.
CrudeOil Important Levels to watch !CrudeOil important levels to watch are as follows
#Support: 7501
Sell below: 7500 only on 15 minute candle closure below the level.
Target 1: 7460
Target 2: 7410
#Resistance: 7540
Buy Above: 7540 only on 15 minute candle closure Above the level.
Target 1: 7570
Target 2: 7610-7630
#Remember each level will act as a support and resistance individually so there is a probability of reversal on either side. Please do your own research before initiating any trade. Always keep stoploss in order to protect your capital.
Follow us for more such information and educational ideas. Give it a like if you appreciate the idea. Queries will be answered in comment section.
crude oil avoid fomoYOU WILL GET CHANCE TO GO LONG ON OIL AT 6900 LEVEL AVOID FOMO AT CURRENT LEVEL
hello everyone, price at cmp = 7000 - 7300 has multiple resistance from previous trend
and with current trend price has left some imblanace zone and fair value area
which is likely to be retested soon
within current zone there will be trap on both side as big institute and banks will be creating liqudity pools getting in their way = wiping your account
there are some other pair tradable still
keep track on this idea & level 6910 and 6885, 6690 and 6750
CrudeOil Important Levels to watch !! CrudeOil important levels to watch are as follows
#Support: 7190
Sell below: 7190 only on 15 minute candle closure below the level.
Target 1: 7100
Target 2: 6970
#Resistance: 7300
Buy Above: 7300 only on 15 minute candle closure Above the level.
Target 1: 7370
Target 2: 7480
#Demand Zone: 7060-7090 may act as a immediate buying zone, and price may bounce from the region marked in green on the chart.
#Remember each level will act as a support and resistance individually so there is a probability of reversal on either side. Please do your own research before initiating any trade. Always keep stoploss in order to protect your capital.
Follow us for more such information and educational ideas. Give it a like if you appreciate the idea. Queries will be answered in comment section.
Fuel Your Wealth with CrudeOil !! CrudeOil important levels to watch are as follows
#Support: 7050-7055
Sell below: 7050 only on 15 minute candle closure below the level.
Target 1: 7000
Target 2: 6950
#Resistance: 7080
Buy Above: 7080 only on 15 minute candle closure Above the level.
Target 1: 7125
Target 2: 7190
#Demand Zone: 6960-6990 may act as a immediate buying zone, and price may bounce from the region marked in green on the chart.
#Remember each level will act as a support and resistance individually so there is a probability of reversal on either side. Please do your own research before initiating any trade. Always keep stoploss in order to protect your capital.
Follow us for more such information and educational ideas. Give it a like if you appreciate the idea. Queries will be answered in comment section.
Fuel your Wealth with crude oil !! Crudeoil important levels to watch are as follows.
Currently, CrudeOil is moving in a parallel channel since 23rd August. Meanwhile current important levels are as follows.
#Support: 6750
Sell below: 6750 only on 15 minute candle closure below the level, next immediate support can be expected at day Low which is marked in dashed line.
Target 1: 6690
Target 2: 6640-6420
#Resistance: 6771
Buy Above: 6771 only on 15 minute candle closure Above the level.
Target 1: 6820
Target 2: 6875-6890
#Demand Zone: 6600-6630 may act as a immediate buying zone, and price may bounce from the region marked in green on the chart.
#Remember each level will act as a support and resistance individually so there is a probability of reversal on either side. Please do your own research before initiating any trade. Always keep stop-loss in order to protect your capital.
Follow us for more such information and educational ideas. Give it a like if you appreciate the idea. Queries will be answered in comment section.
CrudeOil Important Levels to watch !!Crudeoil important levels to watch are as follows
#Support: 6420
Sell below:6420 only on 15 minute candle closure below the level.
Target 1: 6350
Target 2: 6240
#Resistance: 6560
Buy Above: 6560 only on 15 minute candle closure Above the level.
Target 1: 6630
Target 2: 6760
#Demand Zone: 6450-6420 act as a immediate buying zone, and price may bounce from the region marked in green on the chart.
#Supply Zone: 6680 - 6630 may act as an immediate selling zone, and price may reject from the region marked in red on the chart.
#Remember each level will act as a support and resistance individually so there is a probability of reversal on either side. Please do your own research before initiating any trade. Always keep stoploss in order to protect your capital.
Follow us for more such information and educational ideas. Give it a like if you appreciate the idea. Queries will be answered in comment section.
Possible short in crude oilCrude oil is forming a slightly inclined head and shoulder pattern but it is still a clear pattern. The target is quite low as measured from the pattern. There is a small support before the target and that is the place where we can get some halt which is around 6334. But apart from that the target aligns nicely with a support level from where we can expect a good bounce. 6550 could be a great entry if it arrives, though the current levels are not too bad either to take a staggered entry using the mini lots.
crude oil (mcx) new udateprice got rejected from dotted ascending trend line
previously we have decide to go long on crude as there was good setup as per smc
but price didnt came to our buying limits
and a sudden gap down creates a panic and price got sold out
now price has breached first higher time frame demand
and halting at non mitigated level which is another higher time frame demand
follow the price structure by lower high and lower lows
6460 and rd fig 6400 is a support last defence line for buyer will be 6300