Crude bearish Price is trying to take support at prior low but RSI is making lower low. Looking at scenario, we can guess that... Price can not sustain at these levels.
5A1! trade ideas
Crude Long (01 Nov)Crude Long (01 Nov)
RSI-55
Buy at CMP- 7257 or at 7240
SL- 7200
Target- 7340, 7379
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Crude Oil (MCX): Tuesday - 01/11/22Levels:
Support: 7250, 7180, 7130, 7000
Resistance: 7250-7275, 7300, 7400.
OI Data (16th Nov Expiry):
Highest OI Call in Crude per OI data: 7500
Highest OI Put in Crude per IO data: 6500
Nearest Major Resistance in Crude per OI data: 7300 (the CMP)
Nearest Major Support in Crude per IO data: 7000
Trade setup:
1. For any buy trade, follow the N pattern (let the price run above the level, let it retraces back to the level and let it hold the level as support)
2. For any sell trade, follow the mirror-N pattern (let the price fall below the level, let it pull back to the level and unable to pass through the level as resistance).
3. Crude is negotiating 7300 today. Above 7300, it will reach first 7330, then 7400 level.
4. The solid support is at 7000 level.
Trade:
1. Once 7300 is broken and a N pattern is created (i.e. 7300 is retested and hold), try with a 7400 CE (16th Nov expiry)
2. Around 7400 if resistance faced and retested (i.e. price unable to sustain above 7400), book the CE and try with a 7300 PE (16th Nov expiry)
Note: both of these are naked Commodity Options, so inherently risky (riskier than Bank Nifty)
Bullish divergence on crude On hourly chart, there's bullish divergence. Chance of upmove is increasing.
Crude Short (31 Oct)Crude Short (31 Oct)
RSI-40
Sell at CMP- 7182
SL- 7273
Target- 7110, 7055
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Crude Oil (MCX): Monday - 31/10/22Levels:
Support: 7180-7160, 7120, 7000 (Solid Support, even in OI data)
Resistance: 7250-7275, 7300, 7400.
OI Data (16th Nov Expiry):
Highest OI Call in Crude per OI data: 7500
Highest OI Put in Crude per IO data: 6500
Nearest Major Resistance in Crude per OI data: 7300
Nearest Major Support in Crude per IO data: 7000
Trade setup:
1. Still by-and-large range-bound. However the range is shifted higher side.
2. New range: 7300-7000 (Price-Action data is matching with OI data)
3. Anyone wish to play hedge can go with a range-bound non-directional strategy of the following range.
A. buy 7500 CE (Nov-16 expiry) :
B. buy 6800 PE (Nov-16 expiry) :
C. sell 7400 CE (Nov-16 expiry)
D. sell 6900 PE (Nov-16 expiry)
Net credit - (i.e. you need not to pay, rather earn different of premiums): 70 per lot. (Margin you have to check with broker)
BEP (safe range): 7450-6850
Crude Oil (MCX): Friday - 28/10/22Crude levels for evening session:
-------------------------------------------------------
(Just sharing screen with levels - did not checked OI data).
If it goes above the red uptrendline ~7400 level, it will be bullish for sure.
Below 7125-7150 has good support.
Mota mota: 7100-7400 level for today.
#Crude Short (28 Oct)#Crude Short (28 Oct)
RSI-34
Sell at CMP- 7238
SL- 7342
Target- 7132, 7075
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#mcx #commodities #commodity
Crude Oil (MCX): Thursday - 27/10/22Levels:
Support: 7180, 7120, 7120, 7020
Resistance: 7290-7300, 7360-7400.
OI Data (16th Nov Expiry):
Highest OI Call in Crude per OI data: 7500
Highest OI Put in Crude per IO data: 6500
Nearest Major Resistance in Crude per OI data: 7300 (1370 OI with 16% addition y'day)
Nearest Major Support in Crude per IO data: 7000 (2615 OI with 25% addition y'day)
Trade setup:
1. Yesterday there is a very good breakout above 7180 level with high volume.Which is a bullish indication.
2. The next crutial level to watch for is: 7300 (7230-7290 is the zone). If it sustains above it, 7400 is in the card.
3. Anyone wish to play hedge can go with a range-bound non-directional strategy of the following range:
A. buy 7500 CE (Nov-16 expiry)
B. buy 6600 PE (Nov-16 expiry)
C. sell 7400 CE (Nov-16 expiry)
D. sell 6500 PE (Nov-16 expiry)
Crude Demand and Supply [27th October 2022]
Crude is trading in no trading zone.We had marked corresponding demand and supply. When the market will reach either of demand or supply zone marked, we will plan our trade depend on candlestick or chart pattern.
Crude Oil (MCX): Wednesday - 26/10/22Levels:
Support: 7000, 6900, 6775
Resistance: 7100, 7150, 7220, 7275
OI Data (16th Nov expiry):
Highest OI Call in Crude per OI data: 7500
Highest OI Put in Crude per IO data: 6500
Nearest Major Resistance in Crude per OI data: 7000
Nearest Major Support in Crude per IO data: 7000
(These 7000 levels seem very important from crude, it has total 3600 OI across Call & Puts, 25% addition y'day)
Trade setup:
1. Today (26/10/2022, Wedesday) MCX is open in the evening slot (5:00 PM to 11:30 PM)
2. Crude is range-bound since last 3 trading sessions. Range is: 6900-7200.
My view on CrudeoilCrudeoil forming head & shoulder pattern. Below 6950-6900 it may nose dive.We are keeping on radar crudeoil 6800 PE.
My Assumption on Crude Oil November 2022, This is my assumption on Crude Oil and it may be 100% wrong in actual Trade. I am not a SEBI registered analysts and I do not encourage anyone to take trade on the basis of that. Please consult your Financial Advisor before entering into any trade. I just shared what I feel about Crude Oil in the coming days.
Crude Oil (MCX): Monday - 24/10/22This is done using the multi-timeframe, multi-period technique we were discussing last Friday’s call.
Chart:
Analysis:
Levels:
Support: 7000, 6900, 6750
Resistance: 7080, 7150, 7220
OI Data:
Highest OI Call in Crude per OI data: 7500
Highest OI Put in Crude per IO data: 6500
Nearest Major Resistance in Crude per OI data: 7200
Nearest Major Support in Crude per IO data: 7000/6900
Trade setup:
1. Today MCX is open in the evening slot (5:00 PM to 11:30 PM)
2. Upto Daily timeframe Crude is sideways. The William Alligator is sleeping, so you should also sleep. Trading range: 6900-7200 for today.
3. So ideally you can do scalping. Any directional trade to be taken only above 6900-7200 breakdown/breakout.
shorting in crude oilShorting opportunity in crude oil. one can wait for retracement and breakout on small timeframe
CRUDE OIL FOR NOVEMBER 2022Possible Support & Resistance levels for Crude Oil in the month of November,2022,
Crude Short ( 13 Oct)Crude Short ( 13 Oct)
RSI-40
Sell at CMP- 7178
SL- 7255
Target- 7070, 7005
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CRUDEOIL chartDISCLAIMER THIS ONLY FOR EDUCTION PURPOSE downtrend happen again this to have for some time only again it move uptrend to ready for it
Crude Long ( 12 Oct)Crude Long ( 12 Oct)
RSI-46
Buy at CMP- 7315
SL- 7243
Target- 7375, 7412
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Disclaimer- We are not SEBI registered advisor.
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crudeoilAlways follow Risk and Position Management❇️❇️
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