From previous update- was likely looking for a bounce - got the bounce to 48-49$ & In the last trading session- Oil gave the big red candle & going below 45$- shall be looking for downside first in the zone 42-41$ Related Analysis Attached below
My advice is to stay away from this market for the time being.
CL1 watchout again, yesterday from 47.80 it made 49.20 till now and came back now again to that level @47.80. Now what? Now as CL1 is giving a negative breakout so if it breaks 47.70 then we can see a downfall upto 47.45/47.10, on the upside it should not break 47.90
MCX Crude jumps 150 points from 3200 -3205 to 3340 current price & International -it jumps to 49$- like we book & exit.
CL1! has been trading in rising channel pattern. The prices have tested the lower band and moving northwards. The minor hurdle (black dashed line) at $46.50 if cleared by Bulls (on closing), we might head towards $54-58.
CL1 is on breakout, if it breaks it resistance at 47.80 then it can go upside till 48.80/49.40 levels, on the lower side it should not break 47 level.
B2C- (B2C) is a business or transactions conducted directly between a company and consumers who are the end-users of its products or services. Yes, Isn't that lucrative for end users why because products reach directly to the consumers - no middleman- no obstructions- no resistance & crude travels b2c from 43$ to 52$ with a double bottom- an important lesson from...
Being Major Trend is down crude oil futures is all set to re-trace it's up move. So one can Short Around 45.70 and Above keeping a Stoploss level @ 46.50 to 46.60 For Target 44.25$ to 43 $ This is a short to medium term Trade
Get Ready for the Downside Move. At Least till PINK Area, by Tommorow
CL1 Falling but keep eye on 46.33 level for Buy...Strong support level to watch 46.33, It can give a buy bounce from that level. Just watchout 46.33 and if broken than a gud downfall waiting.
Crude Broke Uptrending Line. I will start Looking For 36 Region, ONCE it gets below and STARTS CLOSING below 44 Level. Keep watching
Just a warning. Tighten Stops. Just in Case?
For next several days i am keeping a short side view of Crude Oil. But for that decisive break of RED Line is essential
Short CL1 blw 50.63 sl51.02 tgt 49.79/49.50..... MCX Level- MCX Crude SELL blw 3400 sl 3425 tgt 3350/3300/3250+
Inverse H & S pattern in weekly chart of crude oil......about to break neckline.....big move is expected if it breaks neckline.....
Crude Oil Short setup viewpoint. Trade with further price action confirmation.
Greetings oil traders, As you can see from the chart which is in weekly time frame, the move (INTERIM rally) is just a correction for the down trend; say for the super cycle wave (Y) Therefore, we sure say that the current move is merely a retracement for the Super cycle wave (Y) and the initial move (X) has been stagnated for some time at the areas of 23.6%...