CRUDE OIL :- Price is re testing the sideways zone, this is the first retest, in the matter of my opinion, We can take a trade at this price point. we can clearly see the short setup.
crude rockedd hit 5550 sold form 5700 now more sell lvl only sustain blw 5530 thna sell on rise possible with5686 tgt 5420-5380+++ yes musts sustain blw 5530 or cme 66.80 than u will see dwn fall 65$
The crude oli price in the near 70$/Barrel is the good news for the indian economic but this price drope is passes to the people, We are waiting for fuel price cut
Future contract of MCX:CRUDEOILMJ2023 looks bullish as of now, going long at the current market price of 5817, my stop loss is at 5782 and target at 5902.
Let's do a multi time frame analysis of Crude chart.
On monthly time frame Crude seems to be running in a parallel channel, except that it has given two outliers outside it. It first broke down the channel during Covid to make a new low and then during Ukraine Russia crisis it broke out of the channel to make a new high.
On weekly time frame, crude made a...
Crudeoil trying to make 2nd shoulder so that it may give inverse H&S breakout.
Let see my view only...
Crude above 5750 looking good
Keeping on radar Crudeoil 5800 CE
Crude oil Futures at support
Currently at support levels of the downward moving triangle. Expecting some short upmove in near term of 6480.
No recommendations, just my view based on charts.
crudeoil at this week low if it breaks down and retest at this week low after a break down then we may see a fast move towards downside where we may have a scalping
opportunity
