Crude Oil in Consolidation Phase within Uptrend.
Support Zone 7600-7200
If Support holds, Bulls will push Prices higher
Break of Support could cause more choppiness and consolidation bringing Bears into Play to push for lower levels
MCX:CRUDEOIL1!
#MCX:CRUDEOIL bagged good profits and further levels marked for practice.
Details with results shared in the signature column.
#NATURALGAS , #COPPER also bagged very good results check for details.
Happy LEarning !!
Crude is forming a symmetrical triangle. Currently, it is facing a resistance level of 8300 levels but if this level is crossed then we can see a quick move!
Concepts - Symmetrical Triangle ( Pattern Analysis )
Resistance Levels
Important levles for crude oil for 5-5-22. Levels are marked for guidance purpose only . Price is moving with trend line marked. You can consider the trend line as support for crude oil.
There is an harmonic pattern found in crudeoil mcx and Usoil.
Entry & stop marked red and black, targets in blue color.
Note: Always try to find a good price action patterns or any candle stick patterns in marked zones in smaller timeframe to take entry with small stop loss. If you follow diagonal trendlines you can take entry and exit easily. (Color code...
#CRUDEOIL opened negative and moved 7812,
and taken support range arund 7800
and resistense range around 7950 and positionally
selling range around 7950 and then it may come
7700-7620 levels
CL1! futures broke out of its upward channel in late February and now the upper end of this channel is acting as a good support. If it continues to hold these levels, new highs will be seen pretty soon!
