I am expecting a Upside rally in Crude Oil in next 2-3 months. The reason is after a big dip now Crude Oil is taking support at a Major support level and forming W pattern.
CrudeOil important levels to watch are as follows
📍 Support: 6155
📊Sell below: 6155 only on 15 minute candle closure below the level.
📉Target 1: 6100
📉Target 2: 6050
📍 Resistance: 6225
📊 Buy Above: 6225 only on 15 minute candle closure Above the level.
📈Target 1: 6290
📈Target 2: 6355
⚡⚡ Remember each level will act as a support and resistance...
In the current scenario, consider initiating a long position if and only if a candle sustains above the 6053 level.
On the other hand, for a short position, wait for the level of 5983 to be broken, ensuring that at least one candle maintains its position below this level.
Please confirm if these levels are suitable for you by commenting and liking. 👍
TimeFrame: 45 Mins
The parallel channel in the market suggests a prevailing trend. After a
recent upward movement, there's currently a downside trend of more
than 50 points.
Additionally, the formation of three bottoms indicates a potential reversal
in the direction of the trend after touching parallel support
Give it a thumbs up if you agree and support👍 🚀
Disclaimer: This analysis is solely for educational purposes and does not make me a SEBI registered analyst.
If you found this analysis helpful, I encourage you to like and share it. Your observations and comments are also welcomed below. Your support, likes, follows, and comments motivate me to consistently share valuable insights with you.
🔍 More Analysis &...
Crudeoil- Breaks the trendline-begins the bull race
200SMA and Monthly CPR are the main defenders now
If crudeoil manages to clear both defenders we can expect a bull rally
And we can easily achieve profit goal
🔸 Timeframe: 4 hours
🔸 Strategy: Long
Crude oil prices witnessed a decline as they were unable to breach the resistance at 6225, leading to a downside. It's crucial to note that the market dynamics might undergo a shift, especially considering the influence of upcoming manufacturing data from both China and the USA.
🔸 Resistance: 6279
🔸 Support: 6142
Crudeoil - at the verge of trendline breakout
Monthly CPR is narrow
Buildup near the trendline resistance indicate high probability of breakout
Price can't reach previous swing lows indicating strong buying pressure
#crudeoil
Earlier, we had taken a long trade on crude oil based on trends. Now, a slight pullback is expected. I've marked the levels I'm playing with and my position.
6200 has been rejected many times already, and expecting it to be rejected this time as well.
The targets are not much. I'm expecting only 3-4% in profit and -2% loss at max. Manage risk accordingly.
This is the image which I shared with you a few days back, It is a very crucial day today and trade carefully. Buy only 6266, if broken decisively.
Disclaimer: I am not a Registered Analyst with any National/International Regulatory Agency. Please consult your financial advisor before making any decision. I will not be responsible for any of your...
Crude oil has given a very good fall. But has it bottomed out?
From the charts, we can see 5700 levels is where crude has formed the nearest bottom. Also, the swing high is 6000. I will go long if 6000 is taken out in the next couple of days. Otherwise, I will not be trading on crude.
🔸Timeframe: 4 hour
🔸Strategy: Long
In yesterday's session, crude oil prices experienced a decline following inventory data. However, in the 4-hour time frame, a Doji candlestick pattern was observed, indicating market indecision, and subsequently, a reversal towards the upside. For today's session, the resistance is identified at 6225-6228. If this level is...
On Our Harmonic pattern indicator based trade setup take trade as explained below :-
Early trades Buy or sell below/ above 23.6 %, safe trades buy or sell above / below 41% , after taking trade next upside or downside levels will be target ,
When reverse buy or sell signal appear then book profit on Target or trail SL to 23.6 % If trailing SL hit then early...
Crudeoil Intraday
Timeframe: 15 min
Strategy: Neutral
On December 21, oil prices declined, breaking a three-day winning streak, primarily driven by concerns about low demand following an unexpected rise in U.S. crude inventories. Despite worries about global trade disruptions from Middle East tensions, the focus shifted to sluggish demand. The provided...
CrudeOil important levels to watch are as follows
📍 Support: 6020
📊Sell below: 6020 only on 15 minute candle closure below the level.
📉Target 1: 5970
📉Target 2: 5900
📍 Resistance: 6100
📊 Buy Above: 6100 only on 15 minute candle closure Above the level.
📈Target 1: 6145
📈Target 2: 6200
📈Target 3: 6250
⚡⚡ Remember each level will act as a support and...
CRUDEOIL at the verge of a breakout after traders booked profits from equity. It is supposed to pump money in commodity market.
Other Technical Reasons:
1) Taken support
2) Crossed 20 EMA
3) Good Volume Support
4) About to form ‘Three white soldiers’ pattern
