CLOIL trade ideas
Brent Crude trading above critical levelsUSOIL -> Montly Chart
Keep this chart and important levels in radar in your investment journey.
Higher price of Brent Crude is never a good thing for Indian Stock Markets.
Disclaimer: This is for educational purpose only. This is not any recommendations. I am not SEBI registered. Please consult your financial advisor before taking any action.
Crude i somehow think PRICE will repeat the history#crude #crudeoil Monthly chart, i somehow think PRICE will repeat the history 105$ - 115$ and may be even 147$ in coming MONTHS
And if this has to happen, then EQUITY upside may be unmeasurable for some more years Star-struckPartying faceSmiling face with sunglasses
....... obviously this is CRAZY, but!!!!
CRUDE OIL: Bearish for short termLEADING DIAGONAL: In a leading diagonal , waves 1,3, and 5 are all impulsive in nature or all in corrective form of zigzags. Wave 2 and wave 4 are always present in a zigzag form. A leading diagonal suggests the starting of a new wave & that is why it can develop wave 1 of a impulse wave and a first wave of a zigzag pattern.
Either a larger correction of higher degree or a smaller correction as a ZIG-ZAG corrective wave , whatever the condition crude is going to fall if rejected from the current levels.
TRADING STRATEGY:
AGGRESSIVE PLAYERS: One should go short in the region of 93.5 $ to 94 $ keeping SL of 96$ and look for the target of 88$ and 85-84$ zone .
SAFE PLAYERS: wait for the closing below 92$ & then go short for the target of 88$ and 85-84$ zone .