What is crude MCX? On a global level, the most important oil benchmarks are the West Texas Intermediate(WTI), Brent Blend, and Dubai Crude. Exchanges: Oil futures in India are traded on the Multi Commodity Exchange, also known as MCX. On MCX, crude oil is one of the most highly traded commodities. How To Become a Professional Trader : Learn the trading basics....
ICOMDEX CRUDE OIL Timeframe: Monthly It is the ICOMDEX monthly timeframe chart where the price has started a new impulsive cycle from the low of 1270. The price has broken out 20 & 50 Exponential moving averages. RSI is snowing bullish momentum with a 56.97 level. Wave formation and Fibonacci relationships: Wave (2) retraced 38.2% of wave (1). Wave...
CRUDE OIL: Bullish pattern in crude oil ,likely rounding bottom pattern,Sharp reversal in RSI Stochastic indicates possibility FOR a break out towards 9500(MCX Crude).Crude holding above does not augur well for the market sentiments. (View iir for educational purpose only)
VERDICT MCXCRUDE MCX:MCXCRUDEX Making a Giant Head and Shoulder Crude Can Show Huge Upside Caution For Stock Markets Especially Who Import Crude Oil Keep Watch Only For Study Purpose
because of the inverted head and shoulder formed in daily time frame.so guys wait and watch
Om Namah Shivay With Limited data, we are trying to have a View on Crude MCX. Wave 1 data is not complete in lower time frames. Interesting is if we consider this as an impulse down, then V goes to minus 1800 level which may not be possible. So the structure looks a flat structure. So the impulse down is invalid. And a flat structure is complete. A new...