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CRUDEOIL1! trade ideas

Crudeoil Important levels to watch. Crudeoil important levels to watch are as follows #Support: 6810 Sell below: 6810 only on 15 minute candle closure below the level. Target 1: 6740 Target 2: 6670 #Resistance: 6890 Buy Above: only on 15 minute candle closure Above the level. Target 1: 6950 Target 2: 7030 #Demand Zone: 6810-6820 may act as a immediate buying zone, and price may bounce from the region marked in green on the chart. #Supply Zone: 6870-6890 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.
MCX:CRUDEOIL1!
by InvestyourAsset
Crude oil formed double bottom breakout at 6830 tgt 7460 -7690Crude oil seems to have formed double bottom and is trading above neckline 1. RSI daily and weekly above 60 2. Breakout point at 6830 3. Rounded bottom on daily chart Buy on Dips for a TGT of 7460 - 7690 SL can be either below 6830 or below point "C " Disclaimer: I am not an expert, I just share interesting charts here. Ideas shared are not in any manner an advisory to trade. Please seek expert opinion before investing / trading because investment / trading in market is subject to market risks. I do not hold any position in crude oil as on date.
MCX:CRUDEOIL1!Long
by purisonshuf
1
Crude Oil Inventory Data and Market Analysis:Crude oil inventory data was released on Aug 8th, with expected storage of 0.567M barrels. Actual storage reported was 5.951M barrels, indicating an oversupply compared to expectations. The disparity between expected and actual storage suggests potential market shifts. Supply and Demand Impact: The surplus in crude oil supply suggests weaker demand or increased production. Oversupply can lead to downward pressure on prices due to more available oil than the market needs. Technical Analysis and Price Trends: Crude oil has been trading in a rising channel, indicating an upward trend within a specific range. Price trends suggest that the market has been favoring higher crude oil prices. Divergence in Data and Price Trends: A notable point is the divergence between inventory data and price trends. This could mean other factors beyond supply and demand are influencing the market. Factors like market sentiment, geopolitical events, and speculation might be at play. Waiting for Clarity: Given conflicting signals, a cautious approach is advised. Waiting for more information or confirmation is sensible before making trading decisions. Rapid market changes and various influencing factors must be considered.
MCX:CRUDEOIL1!
by TradingCraftsman
CrudeOil Important Levels to watchCrudeoil important levels to watch are as follows #Support: 6880 Sell below: 6880 only on 15 minute candle closure below the level. Target 1: 6830 Target 2: 6795 #Resistance: 6960 Buy Above: 6960 only on 15 minute candle closure Above the level. Target 1: 7020 Target 2: 7085 #Demand Zone: 6880-6910 may act as a 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.
MCX:CRUDEOIL1!
by InvestyourAsset
CrudeOil Important levels to watch. Crudeoil important levels to watch are as follows #Support:6915 Sell below:6915 only on 15 minute candle closure below the level. Target 1:6850 Target 2: 6770 Target 3: 6670 #Resistance: 6965 Buy Above: 6965 only on 15 minute candle closure Above the level. Target 1: 7040 Target 2: 7090 #A bearish harmonic pattern has been drawn on the chart along with its entry and stoploss level. As per the pattern it can be expected that price may face rejection at the top. Once the top is taken off again it is recommended to exit short positions or the top can be used as a stoploss. #Demand Zone: 6620-6650 may act as a 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.
MCX:CRUDEOIL1!
by InvestyourAsset
CrudeOil Important Levels to watchCrudeoil important levels to watch are as follows #Support:6620 Sell below:6620 only on 15 minute candle closure below the level. Target 1:6560 Target 2:6520 #Resistance:6700 Buy Above:6700 only on 15 minute candle closure Above the level. Target 1: 6760 Target 2: 6850 #Demand Zone: 6620-6650 may act as a buying zone and price may bounce from the region marked in green on the chart. #Supply Zone: 6820-6800 may act as a 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.
MCX:CRUDEOIL1!
by InvestyourAsset
4
Crude oil going to correct ?Crude oil appears to be bearish in the near future. This conclusion can be drawn from various data points, which we will examine sequentially: Chart Patterns: Upon examining the continuous contract chart pattern for crude oil futures in the daily timeframe, we notice that the price has reached resistance, as depicted in the accompanying image. Furthermore, the candles have become smaller as the price reached this resistance point, with the most recent candle resembling a doji. This pattern can serve as an indicator of future trends. Relative Strength Index (RSI): The RSI for crude oil in the daily timeframe has reached the upper band of 70, which is considered the overbought zone. This can be interpreted as an indicator that crude oil may weaken significantly over the coming period. Trading Volumes: A careful observation of trading volumes reveals that they have flattened, or even slightly decreased. This can be another signal that crude oil may become bearish in the near future. Crude Oil Inventory Data: By analyzing the crude oil inventory data, we can infer that the supply is not as low as expected. This suggests that while the supply remains consistent, the demand is decreasing, which could lead to a drop in crude oil prices in the future. In summary, considering all these points, we can conclude that the price of crude oil may decrease in the near future.
MCX:CRUDEOIL1!Short
by TradingCraftsman
Crude Oil important levels to watchCrude Oil important levels to watch are as follows #SUPPORT: 6670 #RESISTANCE: 6720 #buy above 6720 with a strict trailing Stoploss as per your risk appetite. Expected targets mentioned below: Target 1: 6755 Target 2: 6800-6810 #Sell Below 6670 with a strict trailing stoploss as per your risk appetite. Expected targets mentioned below: Target 1: 6620-6600 Target 2: 6540 Please note that each targets may act as a support and resistance so trade accordingly. Also, this is only an educational idea and not a buy or sell recommendation please follow your own trade setup before initiating any trade. Follow us for more such information and give it a like if you appreciate the idea. Queries will be answered in the comment section.
MCX:CRUDEOIL1!
by InvestyourAsset
2
Crude Oil important levels to watchCrude Oil important levels to watch are as follows #SUPPORT: 6500 #RESISTANCE:6600 #buy above 6600 with a strict trailing Stoploss as per your risk appetite. Expected targets mentioned below: Target 1: 6690 Target 2: 6810 #Sell Below 6500 with a strict trailing stoploss as per your risk appetite. Expected targets mentioned below: Target 1: 6450 Target 2: 6290 Please note that each targets may act as a support and resistance so trade accordingly. Also, this is only an educational idea and not a buy or sell recommendation please follow your own trade setup before initiating any trade. Follow us for more such information and give it a like if you appreciate the idea. Queries will be answered in the comment section.
MCX:CRUDEOIL1!
by InvestyourAsset
Crude Oil Analysis -01 AugHaving completed the month of July with a large price movement, we are starting the august cautiously. Refer the Channel and go with the flow. For positional traders, the crude is still bullish having the Brent crude oil sustaining above $80.Below $79, could see selling pressure. For MCX traders intraday, refer the channel and above the channel line go long. Any weakness at the channel will be opportunity to for short. Disclaimer: Ideas listed are My Trading analysis and Notes/journals. Not a RA These are NOT recommendations for Buy /Sell. Do your own analysis before jumping into any trade/Investment. Learn and then Earn.!
MCX:CRUDEOIL1!
by iTechnIndica
Crude Oil important levels to watchCrude Oil important levels to watch are as follows #SUPPORT: 6440 #RESISTANCE: 6475 #buy above 6475 with a strict trailing Stoploss as per your risk appetite. Expected targets mentioned below: Target 1: 6530 Target 2: 6600 #Sell Below 5440 with a strict trailing stoploss as per your risk appetite. Expected targets mentioned below: Target 1: 6390 Target 2: 6340 Target 3: 6270 Please note that each targets may act as a support and resistance so trade accordingly. Also, this is only an educational idea and not a buy or sell recommendation please follow your own trade setup before initiating any trade. Follow us for more such information and give it a like if you appreciate the idea. Queries will be answered in the comment section.
MCX:CRUDEOIL1!
by InvestyourAsset