1. The crude oil price difference is in a continuous decline, and it needs to be paid attention to.
2. The center of gravity is gradually shifting. In principle, yesterday's drop in crude oil prices failed to drive a sharp drop in commodities. Markets begin to shift and change from trading economic expectations.
3. If there is no major military conflict after...
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.
Disclaimer: Im not tip provider and this chart is not indented to take trade in my levels. It is all your own risk.
A clean channel can be seen and we can see 8300 if it breaks above channel.
Please note this is my observation only. Always consult with your financial advisor before taking any trade.
After getting height in 1st half, now its trying to achieve more height.
In down side - good target after break down & retest.
Upper side - breakover at 7900 try to reach 8000. then next 8200.
Crude Long (26 July)
RSI- 71
Pole and flag
Buy at CMP- 7865 or around 7845
SL- 7811
Target- 7923, 7970
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MCX Crude Oil Futures MCX:CRUDEOIL1! giving signs of exhaustion after recovering from downfall .
expecting the fresh sell off trend to begin for potential targets zone . As per the Pattern expect the selling pressure to remain below 7800 levels .
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Happy Hunting ,
Chintamani
Disclaimer....
Hello and welcome to this analysis on MCX Crude Oil.
The overall structure of sideways consolidation now appears to be set for a rally which could break the falling trend line.
Expecting it to bounce back to 8400 as long as it does not break below 7500
