As a derivatives trader and the developer behind MRISKA DTS5, I'm thrilled to share some fascinating insights from the recent expiry of the MCX Crude Oil Mini May futures contract. Let's delve into the observations and what they mean for the world of derivatives trading.
Death Level Signals Potential Breakdown:
During the expiry analysis, MRISKA DTS5 calculated...
Crude oil has formed based and will travel further north in coming days due to the following reasons
1)Base formation or consolidation for quiet few weeks
2)20 EMA & 50 EMA crossover on an hourly chart
3)Lows not broken, swing high is taken out
4)W pattern
Need to patiently hold & wait, might see bigger target
(FOR EDUCATION PURPOSE ONLY)
Note: Always try to find a good price action patterns or any candle stick patterns in marked zones in smaller timeframe to take entry with small stop loss. Or can take entry based on one 5 min candle close below or above the zone with SL previous candles high or low (*try to avoid big candles).
(Color code for Support & Resistance zones: Red - Sell, Green -...
CRUDE OIL is ready to go long once it sustains over the 6450 level. Its going to be swing trade with 80 point stop loss and 400 point target in current contract period. It has taken crucial bounce from trend line and also retesting the support level of 6400 in 15 min time frame
