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CRUDEOILM1! trade ideas

📆 #Crudeoil Update MCX || April 15Technical Analysis: Price failed twice to breach 7322, forming a double-top pattern. Key neckline at 7057 suggests potential downtrend to 7000, unless breaking above 7330. Support at 7100 (Bearish) Resistance at 7170 (Bullish above) Market Insights: 🔸 Potential dip in oil prices below $90/barrel post Iran's attack on Israel, considering pre-existing rally and flagged risks. 🔸 Calibrated nature of attack may pause Iran-Israel confrontation. WTI crude futures down 0.3% at $85.37; Brent crude down 0.2% at $90.27. 🔸 Note: Market stability expected after 3 pm; await confirmation for trading at specified levels.
MCX:CRUDEOIL1!
by Shalvisharma5
Crude Oil MCX Future Weekly Analysis for 15-19 April, 2024Crude Oil MCX 20 Apr Future Technical Chart Weekly Analysis! 📊 Range Point: 7187 📈 Weekly Range: 265 🎯 Buy Above: 7221 🎯 Average At: 7190 🎯 Buy Target 1: 7351 🎯 Buy Target 2: 7452 🛑 Buyer Stoploss: 7132 📉 Sale Below: 7158 🎯 Sale Target 1: 7023 🎯 Sale Target 2: 6922 🛑 Seller Stoploss: 7247 Don't forget to reciprocate your love by boosting, following and responding, your actions fuel my efforts to do even better for you! #Crude #CrudeOil #CrudeOption #CrudeFuture #MCX #MCXLevels #OilFuture
MCX:CRUDEOIL1!
by NumroTrader
1
Crude Oil Prices Surge Amid Middle East Tensions and Demand ForeTechnical analysis suggests that crude oil prices may find support at $84.40 and face resistance at $87.30, with similar levels identified for Crude oil MCX prices. A recommended trading strategy involves selling on any uptick around $86.20, with a target price of $85 and a stop-loss order placed above $87.30. This strategy aims to capitalize on short-term price movements amidst the prevailing geopolitical uncertainties and demand outlook. In conclusion, the current dynamics in the crude oil market reflect a delicate balance between geopolitical tensions, supply dynamics, and demand forecasts. Market participants are advised to remain vigilant and adapt their strategies accordingly in response to evolving developments.
MCX:CRUDEOIL1!Short
by rajeshtatineni85
Crude Oil : Strong Uptrendcrude oil is consolidating and heading to 7450. If it closes above 7825 for more than 3 days it will head towards 10000. Put Stoploss on closing basis. (In Trading Time it may go above/below stoploss But closing price is most important). These are levels are generated on the basis on Fibonacci Series Disclaimer:- Please always do your own analysis or consult with your financial advisor before taking any kind of trades. Please understand Risk in trading before taking any trade with your financial consult. I am only sharing my knowledge it may be right or sometimes wrong so I am not liable for any loss. Dear traders, If you like my work then do not forget to hit like and follow me, and guy's let me know what do you think about this idea in comment box, i would be love to reply all of you guy's. Thank you.
MCX:CRUDEOIL1!Long
by maneeshaggarwal
Crude Oil: Bullish Momentum ContinuesCrude Oil (MCX) Current Market Price: Approximately 7005 We have observed a significant bullish trend in crude oil over the past few weeks. Unfortunately, due to certain reasons, we were unable to provide updates during this period. Nevertheless, it is never too late to analyze the market. We remain optimistic about crude oil's prospects today. Crude oil has recently experienced a notable breakout, leading us to believe that it may reach levels of 7260 and 7590 in the coming days. For the time being, we will set our stop-loss at 6670, and upon reaching the levels of 6900-6910, we may consider adding positions. Stay tuned for further updates as the market progresses.
MCX:CRUDEOIL1!Long
by iamrk7
#CrudeOil update | MCX | 5- 7th April Timeframe: 1 Hour Crude oil opened with a gap-up today, indicating bullish momentum. The price faces resistance at the 7255 level, a significant barrier observed in historical price action. Anticipation of a gap fill suggests a potential retracement to fill the void created by the gap-up opening. Support is identified between the 7150-7130 zone, where buying interest is expected to emerge. Trend Analysis: In the short term, crude oil is exhibiting bullish momentum, supported by the gap-up opening. However, the resistance at 7255 suggests a potential reversal or consolidation. Technical Indicators: Moving Averages: The 50-day and 200-day moving averages may act as dynamic support levels, reinforcing the overall bullish bias if the price remains above them. Relative Strength Index (RSI): Currently, the RSI indicates overbought conditions, suggesting a potential pullback or consolidation in the near term. Trading Strategy: Long Opportunity: Traders may consider entering long positions if the price successfully breaks above the 7255 resistance level, targeting higher price levels. Short Opportunity: Alternatively, a short position could be initiated if the price fails to sustain above the resistance level and breaks below the support zone of 7100.
MCX:CRUDEOIL1!Long
by Shalvisharma5
Weekly Triangle Pattern Breakout in CrudeWeekly triangle pattern break out in Crude. Entry: CMP Stop Loss: 5658 Target 1: 7884 Target 2: 9635 Positive for: Companies with crude as an output. Examples are ONGC, IOC, RIL, OIL INDIA, BPCL, HPCL, ETC. Negative for: Companies with crude as an input. Examples are ASIANPAINT, BERGER PAINTS, MRF, APOLLOTYRE, GSFC, TATACHEM, ETC. More importantly rising crude prices is bad news for economy as inflation is likely to continue to remain elevated. With higher than normal predicted summer temperatures, electricity bill for end users is likely to remain elevated.
MCX:CRUDEOIL1!Long
by AmitGoel217