Crude oil target 6200Price action in ascending channel.. as there is no supporting news for crude oil to break resistance.
CLF2017 trade ideas
#Crudeoil Update Mar 5 | Intraday MCX
🔸Timeframe: 1 hour
🔸Bearish below 6485, bullish above 6515
🔸Anticipating a bounce from 6413 support; sustained bearish momentum may lead to further downside levels.
🔸WTI crude drops to $78.5/barrel for a second day.
🔸Demand concerns outweigh OPEC+ supply cuts' impact.
🔸China's 5% economic growth target and voluntary cuts influence market sentime
crdue update blw 6590crude looking profit booking blw 6590 now once can take--sell crdue 6583@--6600 sl 6628 tgt 6528--6506
#Crudeoil Update | MCX | Mar 4
🔸Timeframe: 1 hour
🔸Crude most likey to touch the support at 6560 and move towards upward direction.
🔸OPEC+ may continue to cut oil production beyond Q1 to avoid oversupply.
🔸Commerzbank predicts oil prices will stay strong at $80 per barrel if geopolitical risks persist.
🔸Extending cuts until year-end would signal market tightness and positively impact prices.
Crude Oil MCX Future Weekly Analysis 4-8 March, 2024📊 CRUDE OIL 20 MAR FUT LEVELS Analysis
🎯 Weekly Range: 393
➡️ Buy: 6543.87, Avg Pos: 6497.5
🎯 Buy T1: 6880.87, Buy T2: 7031
❌ Buyer SL: 6412.87
💰 Sell: 6451.13
🎯 Sell T1: 6395.13, Sell T2: 6245
❌ Seller SL: 6582.13
Analysis:
The CRUDE OIL 20 MAR FUT shows a weekly range of 393. A buy entry is suggested at 6543.87 with average position at 6497.5. Buy targets are set at 6880.87 and 7031, with a stop loss at 6412.87. Conversely, a sell entry can be considered at 6451.13, aiming for targets at 6395.13 and 6245, with a stop loss at 6582.13. Traders should exercise caution and perform thorough analysis before initiating any positions.
#CrudeOil #Commodities #Energy #OilPrices #TradingOil #MCX #OilAnalysis #OilMarket #OPEC
Buy crude oil again, trend is upCrude oil is in strong up trend, hourly indicators are showing a bottom near 6500.
CRUDECrude oil bullish on weekly chart.
Took support on 200 EMA on weekly chart (White Line).
W pattern in making.
Demand Zone is marked as Green shaded horizontal area.
Double Bottom is marked with 2 Stars which makes Demand Zone stronger.
Resistances are marked as red horizontal lines (For Long Term).
Stoploss is marked as orange horizontal line (For Long Term).
Breakout trade above Skyblue Horizontal line with its Stoploss at Pink Horizontal line.
Price already bounced from Demand Zones.
Rest all levels are marked on the chart.
Breakout trade:-
Buy above 6555
Stoploss 6300
Targets 7770 - 8800 - 9600
Support Based Trade:-
Buy 5700
Stoploss 5210
Long Term Tgts 6555 - 7770 - 8800 - 9600
This idea is for Educational purpose and paper trading only. Please consult your financial advisor before investing or making any position. Facts or Data given above may be slightly incorrect. We are not SEBI registered.
Crudeoil | MCX | Feb 29Timeframe: 1 Hour
Strategy: Bearish
Oil Price Decline: Oil prices extended losses due to a larger-than-expected increase in U.S. crude stockpiles, heightening concerns about sluggish demand.
Stockpile Build: U.S. crude inventories rose for the fifth consecutive week, increasing by 4.2 million barrels, surpassing analysts' expectations.
Elevated Interest Rates: Worries about a slow economy and reduced oil demand in the U.S. were exacerbated by the anticipation of delayed U.S. rate cuts, contributing to market pressure.
Market Sentiment: Large stockpiles fueled investor worries about economic slowdown, while the outlook for delayed interest rate cuts and high borrowing costs added to negative sentiment.
Upcoming Economic Data: Traders awaited the U.S. personal consumption expenditures price index for more trading cues, expecting insight into inflation trends and potential impacts on the market.
Geopolitical Tensions: Ongoing conflicts in the Middle East, particularly concerns related to Jerusalem, were noted as factors likely to keep a floor under oil prices amid global uncertainties.
WTI Crude starts an impulse higherWTI recently took support at the 20dma near 74.80 and is now heading higher in wave iii, which can take it to 88$. The rally may not end there as we should develop a five-wave advance. Oil is the outlier in commodities and often manages late-stage rallies before deflationary trends kick in. Stay prepared for an oil price spike in the coming weeks which can impact inflation expectations.
Crudeoil Update|| 28 Feb
TimeFrame: 1 Hour
Crude oil turning bearish, after inventory news
Crude oil has shifted to a bearish stance in response to recent inventory updates.
The market is now poised to descend towards a key support level at 6460, reflecting the impact of evolving supply and demand dynamics in the oil sector
Crudeoil | MCX | 27 Feb Timeframe: 1 hour
Strategy: Bearish
Macquarie analysts forecast a 5.6 million barrel rise in US crude inventories.
Refinery runs and domestic supply are expected to increase.
Gasoline and distillate draws are predicted, while jet stocks remain stable.
Implied demand is estimated at around 13.9 million barrels per day.
Buy crude oil, hourly indicators at bottomCrudeoil near 6318 is at hourly bottom as indicated by stochastics indicators.
crude mcx update blwon chart base looks blw 6440 crude dwn ward 6350+++++ sell on rise with tight sl 6529 or let see in inventory time
Crude Oil chart analysisCrude oil has been changed its trend to move up. Currently is in the sideways near the resistance zone 6540 Once it breaks that Next could be 6800 levels .
#CRUDEOIL | Update MCX | 23rd Feb
Timeframe: 1 Hour
📉 Crude oil poised for reversal post-resistance at 6542, with potential retest and move towards the next resistance at 6583.
🔹WTI crude prices stable around $78/barrel for the week.
🔹Initial 2% dip attributed to interest rate and demand worries.
🔹Strong US inflation data suggested higher borrowing costs.
🔹Market recovered as geopolitical tensions and lower US crude inventories resurfaced.
🔹Global shift to renewable energy remains a factor in oil demand.
Crudeoil | MCX | 22 Feb update🔹 Timeframe: 1 hour
🔹Bull above 6500
🔹CrudeOil may test resistance at 6568 per barrel, a break above could lead to a gain into 6500 range.
US refineries resuming operations after outages, boosting demand.
Weaker dollar makes oil cheaper for buyers, increasing demand.
Geopolitical tensions add support to prices.
But, US crude inventory build raises concerns, limiting price gains.
Official inventory data expected tomorrow may impact pricing further.
CRUDEOIL | MCX | 19-20th Feb📊 Analysis
🔍 Timeframe: 1 hour
📈 Strategy: Bullish, then Bearish
Observing a robust rejection point at 6600. Anticipating either a range-bound market or rejection from a bearish OB.
Considering recent news:
Oil prices remain in a tight range amid Red Sea ship attacks and demand worries. Brent crude and WTI show slight gains at $83.57 and $78.48, supported by ongoing tensions in the Middle East.
Share your insights! If you concur, give it a thumbs up. 👍 #OilMarketAnalysis #TradingStrategy
Crudeoil MCX || 16 FebEA's Optimistic View:
IEA forecasts global oil supply to outpace demand, with non-OPEC countries leading the rise.
OPEC's Limited Options:
OPEC faces challenges as demand for its oil is predicted to decline, limiting room to lift output without oversupply risks.
Dubious Non-OPEC+ Increase:
Doubts arise over IEA's projection of a 1.6 million barrels per day surge in non-OPEC+ oil production, especially regarding U.S. output.
OPEC's Response:
Some OPEC nations commit to deeper cuts, challenging the IEA's rosy picture, and suggesting the market may not be as comfortable as depicted.
10837 HSP longReason for long
a) HSP long
b) Super vwap breakout
c) Powered by weekly breakout
d) QQE support
e) channel support for long
f) Good risk reward zone
g) SL compulsory
Crudeoil Update || MCX || 15 Feb Crudeoil Update || 15 Feb
Timeframe: 1 Hour
Strategy: Short
🔸Bearish below 6310 - target 6270, 6230
💥Crude oil prices decline due to an unexpected 12 million barrel
💥Increase in US crude stockpiles, according to ANZ Bank.
💥Gasoline inventories drop by 3.7 million barrels, mitigating losses.
💥OPEC's monthly report fallout continues as Iraq and Kazakhstan commit to new OPEC+ oil target.
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Crude oil looks to be a short for 6203Sell MCX crudeoil March contract CMP 6385 for a target of 6203 SL 6462
Crudeoil Update || Feb13 || MCX
Timeframe: 1 Hour
Strategy: Long
🔶BULL above 6400 --- target 6486, 6520
🔶WTI crude futures stayed around $77 per barrel, near a two-week high, due to ongoing tensions in the Middle East.
🔶Israel's airstrikes in Gaza and Hamas ceasefire rejection impacted oil prices, but talks in Beirut hinted at easing tensions.
🔶Concerns about inflation and potential delays in Fed rate cuts could limit oil price gains.
🔶Investors are awaiting key US inflation data and monthly reports from OPEC and IEA for further insights.
