Going long with Crude Oil MiniFuture contract of MCX:CRUDEOILMJ2023 looks bullish as of now, going long at the current market price of 5817, my stop loss is at 5782 and target at 5902.
CRUDEOILM1! trade ideas
MCX Crude future analysisLet's do a multi time frame analysis of Crude chart.
On monthly time frame Crude seems to be running in a parallel channel, except that it has given two outliers outside it. It first broke down the channel during Covid to make a new low and then during Ukraine Russia crisis it broke out of the channel to make a new high.
On weekly time frame, crude made a double top with rising wedge formation and broke down and since then it is in downtrend where every rise has been sold off and finally it entered back in the same channel during August'22 and since then it has been facing resistance at the top of the channel. Current chart formation indicate that it is making a inverted flag & pole kind of formation and has given a breakdown of the lower trendline with double top formation.
On daily time frame, pattern indicates that it recently made a triple top at the previous resistance / breakdown level of 6780, with immediate support placed around 6000/5800, and if it starts sustaining below it - there is possibility that crude may melt more.
On 4 hour time frame, it is making a rounding top and breakdown of the same can take crude to around 5200 levels, pattern target - which is also near about bottom of the channel support placed on monthly time frame.
My view on crudeoilCrudeoil trying to make 2nd shoulder so that it may give inverse H&S breakout.
Let see my view only...
Crude above 5750 looking good
Keeping on radar Crudeoil 5800 CE
Crude oil Futures at support Crude oil Futures at support
Currently at support levels of the downward moving triangle. Expecting some short upmove in near term of 6480.
No recommendations, just my view based on charts.
Crude Oil (MCX): Monday - 20/02/23Levels:
Support: 5500, 5450, 5350
Resistance: 5500-5575, 5625, 5700, 5750
OI Data (17th April Expiry):
Nearest Major Resistance per OI data: 5700
Nearest Major Support per IO data: 5500
Trade setup:
+++++++++++++++++++++++++++++++++++++++++
Trade | Level | SL | T1 | T2
-----------------------------------------
BUY | > 5600 | 5560 | 5650 | 5700
-----------------------------------------
SELL | < 5500 | 5550 | 5450 | 5400
+++++++++++++++++++++++++++++++++++++++++
crude dayrepublishing herewith curde weekly idea in day time frame
breakout of a channel, support of monthly line
crudeoil crudeoil at this week low if it breaks down and retest at this week low after a break down then we may see a fast move towards downside where we may have a scalping
opportunity
Crude Oil buy CMP 5470 Target 5500- 5539- 5565- 5595- 5625- 5Crude Oil buy CMP 5470
Target 5500- 5539- 5565- 5595- 5625- 5650+
Price of crude oil has recently broken downwards Crude oil has been experiencing a significant period of sideways trading, with the price movement being relatively flat. However, the recent downward breakout in crude oil prices has caught the attention of market analysts and traders.
The downward trend in crude oil prices may indicate a short-term bearish sentiment in the market, as supply outweighs demand. This may be attributed to several factors, including a slowdown in global economic growth, the emergence of renewable energy sources, and geopolitical tensions that impact oil-producing nations.
It's worth noting that crude oil prices are highly volatile and can fluctuate rapidly in response to changing market conditions. Therefore, it's important to exercise caution when making investment decisions in the crude oil market.
To stay up-to-date with the latest news and trends in the crude oil market, it's advisable to follow reputable sources such as industry publications and financial news outlets. Additionally, it may be helpful to consult with a financial advisor before making any investment decisions in the crude oil market.
#crudeoil #crudeoilprice #breakout #downtrend #techenicalanalysis #priceaction trading
crude 5445 hit told blw 5800 sell on rise more update blw herecrude 5445 hit told blw 5800 sell on rise more update blw here-- weekly chart showing trend line breakout if close blw 5800 this week may be touch soon 4700-4600++ yes sell on rise must yes its unbeliever but trend or chart supreme as per my analysis may be i wrong but its my view
did u see crude melt down low made 5570 enjoyeddd sell gvn 5980 did u see crude melt down low made 5570 enjoyeddd sell gvn 5980 or 5800 blw still looks more dwn fall any rise sell onlyy gvn as trend line base dont stuck wrong side
Range Formation - Crude OilRange breakouts can be on either side.
But it is possible to predict the side , Observations below.
1. Highs & lows: The price made a lower high compared to previous highs, as marked.
2. Few days up move is nullified by lesser days down move, marked by Red circles.
3. Indecisive bars followed up by big directional bar, yesterday's bar
4. Previous trend to the consolidation is down.
crude close blw 70$or mcx 5800 for 2 days soon 5470--5200crude close blw 70$or mcx 5800 for 2 days soon 5470--5200 yes sell on rise must sl will be trade hrssss yes cme crude soo 62$++ expect as per chart pattern or trend line breakout
crude rockedd hit 70$ mcx 5800 sold gvn 6200 or 75$crude rockedd hit 70$ mcx 5800 sold gvn 6200 or 75$---- soon it will hit 5500 --5200 have patience selll onlyyyyyyyyyyyyyyy any rise soon will more dwn
crude 6010 hit told sell with 6311 cls base sl nxt 5960 sooncrude 6010 hit told sell with 6311 cls base sl nxt 5960 soon yess enjoyedd with technical pattern clear told here sell or relaxxx see now what happened again dontmisss nxt lvl
Crude Oil (MCX): Monday - 13/03/23Levels:
Support: 6280, 6200, 6150, 6070, 6000
Resistance: 6325, 6400, 6430
OI Data (16th Mar Expiry):
Nearest Major Resistance per OI data: 6400
Nearest Major Support per IO data: 6200
Trade setup:
+++++++++++++++++++++++++++++++++++++++++
Trade | Level | SL | T1 | T2
-----------------------------------------
BUY | > 6325 | 6290 | 6350 | 6400
-----------------------------------------
SELL | < 6250 | 6300 | 6200 |6150
+++++++++++++++++++++++++++++++++++++++++
crude sell on rise with 6311 cls base sl tgt 6010--5980crude sell on rise with 6311 cls base sl tgt 6010--5980 yes trend line brekout looks bear modeeeeeeeee
Selling in Crude oilAfter the breaking trend line crude oil in bearish trend. you have big targets with small stop loss.
Enjoy the weekend trade.
Crudeoil reversal zones 6-3-2023Note: 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. Or can take entry based on one 5 min candle close below or above the zone with SL previous candles high or low (*try to avoid big candles).
(Color code for Support & Resistance zones: Red - Sell, Green - Buy, Price once cross above resistance it is obvious it will work as support, vis versa price cross below support zone ). Please understand that market can break all the support and resistance anytime. If any doubt for take entry in price action patterns, please ask in comment box, i will try to help.
Disclaimer: Im not tip provider and this chart is not indented to take trade in my levels, It is shared here for learning purpose. Trading in this pattern is all your own risk. #crudeoil
gold 55112 silver 62240 high made in dedcat bouncegold 55112 silver 62240 high made in dedcat bounce gvn here some bounce due to powel speech
