📆 #Crudeoil Update - MCX | April 16
🔸Technical Analysis:
Current Situation: Crude oil is approaching the critical support level at 7100.
🔸Scenarios:
If the support at 7100 is breached, further downward movement is anticipated, with potential for lower levels.
However, there's a possibility that crude oil could find support at this level and reverse its direction, moving upwards.
🔸Market News:
Impact on Oil Prices: Oil prices surged amid concerns over escalating tensions between Israel and Iran.
NOLV2025 trade ideas
#Crudeoil Update || APR 11 MCXHere are the key levels to watch:
Bullish above 7190: If crude oil prices rise above the 7190 level, it indicates bullish momentum in the market.
Bearish below 7100: Conversely, if prices fall below 7100, it suggests bearish sentiment taking hold.
Traders and investors are closely monitoring these levels to gauge market direction and make informed trading decisions.
📆 #Crudeoil Update MCX || April 15Technical Analysis:
Price failed twice to breach 7322, forming a double-top pattern.
Key neckline at 7057 suggests potential downtrend to 7000, unless breaking above 7330.
Support at 7100 (Bearish)
Resistance at 7170 (Bullish above)
Market Insights:
🔸 Potential dip in oil prices below $90/barrel post Iran's attack on Israel, considering pre-existing rally and flagged risks.
🔸 Calibrated nature of attack may pause Iran-Israel confrontation.
WTI crude futures down 0.3% at $85.37; Brent crude down 0.2% at $90.27.
🔸 Note: Market stability expected after 3 pm; await confirmation for trading at specified levels.
Crude Oil MCX Future Weekly Analysis for 15-19 April, 2024Crude Oil MCX 20 Apr Future Technical Chart Weekly Analysis!
📊 Range Point: 7187
📈 Weekly Range: 265
🎯 Buy Above: 7221
🎯 Average At: 7190
🎯 Buy Target 1: 7351
🎯 Buy Target 2: 7452
🛑 Buyer Stoploss: 7132
📉 Sale Below: 7158
🎯 Sale Target 1: 7023
🎯 Sale Target 2: 6922
🛑 Seller Stoploss: 7247
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#Crude #CrudeOil #CrudeOption #CrudeFuture #MCX #MCXLevels #OilFuture
Crude Oil Prices Surge Amid Middle East Tensions and Demand ForeTechnical analysis suggests that crude oil prices may find support at $84.40 and face resistance at $87.30, with similar levels identified for Crude oil MCX prices. A recommended trading strategy involves selling on any uptick around $86.20, with a target price of $85 and a stop-loss order placed above $87.30. This strategy aims to capitalize on short-term price movements amidst the prevailing geopolitical uncertainties and demand outlook.
In conclusion, the current dynamics in the crude oil market reflect a delicate balance between geopolitical tensions, supply dynamics, and demand forecasts. Market participants are advised to remain vigilant and adapt their strategies accordingly in response to evolving developments.
Crude Oil : Strong Uptrendcrude oil is consolidating and heading to 7450.
If it closes above 7825 for more than 3 days it will head towards 10000.
Put Stoploss on closing basis.
(In Trading Time it may go above/below stoploss But closing price is most important).
These are levels are generated on the basis on Fibonacci Series
Disclaimer:- Please always do your own analysis or consult with your financial advisor before taking any kind of trades. Please understand Risk in trading before taking any trade with your financial consult. I am only sharing my knowledge it may be right or sometimes wrong so I am not liable for any loss.
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CRUDEOIL - Technicals and world affairs aligning for a move Broken out of the trendline. Weekly supertrend signalling a buy as well , EMAs compressing around 63-6400.
Iran threatiening to close Strait of Hormuz
War escalations all around the world (middle east)!
34% would just be the beginning.
Will be adding on dips upto 6760 MCX:CRUDEOIL1!
SL weekly close below 6263
Crude Oil: Bullish Momentum ContinuesCrude Oil (MCX)
Current Market Price: Approximately 7005
We have observed a significant bullish trend in crude oil over the past few weeks. Unfortunately, due to certain reasons, we were unable to provide updates during this period. Nevertheless, it is never too late to analyze the market.
We remain optimistic about crude oil's prospects today. Crude oil has recently experienced a notable breakout, leading us to believe that it may reach levels of 7260 and 7590 in the coming days.
For the time being, we will set our stop-loss at 6670, and upon reaching the levels of 6900-6910, we may consider adding positions.
Stay tuned for further updates as the market progresses.
CRUDE OIL 20 APR WEEKLY MCX FUT/OPTIONS LEVELS 📊 CRUDE OIL 20 APR WEEKLY FUT LEVELS
🎯 Weekly Range: 404.00
📉 Buy at: 7141.67
🎯 Buy Target 1: 7533.67
🎯 Buy Target 2: 7688.00
📉 Average Position: 7094.00
🛑 Buyer Stoploss: 7007.00
📉 Sell at: 7046.33
🎯 Sell Target 1: 7034.33
🎯 Sell Target 2: 6880.00
🛑 Seller Stoploss: 7181.00
#CrudeOil update | MCX | 5- 7th April Timeframe: 1 Hour
Crude oil opened with a gap-up today, indicating bullish momentum.
The price faces resistance at the 7255 level, a significant barrier observed in historical price action.
Anticipation of a gap fill suggests a potential retracement to fill the void created by the gap-up opening.
Support is identified between the 7150-7130 zone, where buying interest is expected to emerge.
Trend Analysis:
In the short term, crude oil is exhibiting bullish momentum, supported by the gap-up opening.
However, the resistance at 7255 suggests a potential reversal or consolidation.
Technical Indicators:
Moving Averages: The 50-day and 200-day moving averages may act as dynamic support levels, reinforcing the overall bullish bias if the price remains above them.
Relative Strength Index (RSI): Currently, the RSI indicates overbought conditions, suggesting a potential pullback or consolidation in the near term.
Trading Strategy:
Long Opportunity: Traders may consider entering long positions if the price successfully breaks above the 7255 resistance level, targeting higher price levels.
Short Opportunity: Alternatively, a short position could be initiated if the price fails to sustain above the resistance level and breaks below the support zone of 7100.
Crude Oil (MCX) BullishW pattern in making
already reversed from Double bottom.
rest all levels are marked on the chart.
Breakout Based:-
Buy above 7702
SL 7418
Tgt 8789 - 9560 - 9997
Support Based:-
Buy near 7060
SL 6787
Tgt 7702 - 8789 - 9560 - 9997
This is for educational purpose and papertrading only. Please consult your financial Advisor before investing. We are not SEBI registered.
Happy Trading.
CURDEOILmcx crudeoil looking bullish gave breakout on daily chart 4month old resistance in upcoming days we can see 7500 and 7700
NOTE: only for educational purpose
RULE: 1: always trade with stoploss
2: decide your risk per trade and per day
3: believe to your analysis
4: stay positive and keep patience
technical analysis + money management+ physicalogy = successful trader
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Weekly Triangle Pattern Breakout in CrudeWeekly triangle pattern break out in Crude.
Entry: CMP
Stop Loss: 5658
Target 1: 7884
Target 2: 9635
Positive for: Companies with crude as an output. Examples are ONGC, IOC, RIL, OIL INDIA, BPCL, HPCL, ETC.
Negative for: Companies with crude as an input. Examples are ASIANPAINT, BERGER PAINTS, MRF, APOLLOTYRE, GSFC, TATACHEM, ETC.
More importantly rising crude prices is bad news for economy as inflation is likely to continue to remain elevated. With higher than normal predicted summer temperatures, electricity bill for end users is likely to remain elevated.