possible shortwhole week spent in consolidation, now if it trade below 85 support, then a 2% drop could be there...
📆 #Crudeoil Update - MCX | April 16
🔸Technical Analysis:
Current Situation: Crude oil is approaching the critical support level at 7100.
🔸Scenarios:
If the support at 7100 is breached, further downward movement is anticipated, with potential for lower levels.
However, there's a possibility that crude oil could find support at this
#Crudeoil Update || APR 11 MCXHere are the key levels to watch:
Bullish above 7190: If crude oil prices rise above the 7190 level, it indicates bullish momentum in the market.
Bearish below 7100: Conversely, if prices fall below 7100, it suggests bearish sentiment taking hold.
Traders and investors are closely monitoring these
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
📆 #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
CRUDEOIL - Technicals and world affairs aligning for a move Broken out of the trendline. Weekly supertrend signalling a buy as well , EMAs compressing around 63-6400.
Iran threatiening to close Strait of Hormuz
War escalations all around the world (middle east)!
34% would just be the beginning.
Will be adding on dips upto 6760 MCX:CRUDEOIL1!
SL weekly
📆 #Crudeoil Update MCX || April 18Update :-
🔸Support at 6811, with a potential move towards the 7000 level for settlement. Long only above 6950-6960.
🔸Crude oil prices declined over 3% due to robust US oil supply & growing demand concerns.
🔸US crude inventories increased by 2.735 million barrels.
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 ab
Crudeoil Update | MCX | Apr 10thToday, there were no trades in crude oil. I anticipated an upward movement, but it reversed instead.
According to the chart, if crude remains below 7100, it may be considered bearish.
A bullish signal is only confirmed if it rises above 7150.
CrudeOil Alert! MCX 💥 Weekly 18 - 23Apr
Timeframe: 4-hour ⏰
🔍 Observing an intriguing D cup pattern emerging in crude oil. The alluring support beckons at 6726. Exciting times ahead! 💃🕺
Selling point at 6860
Target would be 6700 - 6680 (+150 -- +170 points)
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Buying or selling futures contracts depends on many factors: season, underlying commodity, your own trading strategy. So mostly it's up to you, but if you look for some certain calculations to take into account, you can study technical analysis for Brent Oil Futures. Today its technical rating is sell, but remember that market conditions change all the time, so it's always crucial to do your own research. See more of Brent Oil Futures technicals for a more comprehensive analysis.
The current price of Brent Oil Futures is 87.04 USD — it has fallen 0.22% in the past 24 hours.
The volume of Brent Oil Futures is 58.56 K.
Open interest is the number of contracts held by traders in active positions — they're not closed or expired. For Brent Oil Futures this number is 257.27 K. You can use it to track a prevailing market trend and adjust your own strategy: declining open interest for Brent Oil Futures shows that traders are closing their positions, which means a weakening trend.