The markets are falling down because of increased fear of recession. Recession affects everything, be it stocks or commodities like CRUDEOIL, NATURALGAS, SILVER, GOLD etc.
Energy sector fell drastically yesterday. Crude Oil fell about 11% whereas Natural Gas fell about 6%.
Crude Oil has a strong supply zone around 9300 according to the monthly timeframe from...
if we pop up side then we will face a selling and can came to current lows for either support or continuation
towards lowers supports
or it just breaks down and tries to find support on the way any bullish move will be sold in to till price shows us that it is getting stronger so will wait a bit and update in time
have a good time peoples by:)
MCX:CRUDEOIL1! is taking support and also falling channel is there and if we draw fibo from DEC 2021. to. 8 march 2022 then we near 0.5% fibo ( 50% retracement )
if we cross channel we can see a good rally in upwards direction