Study says that crude is travelling in channel since long once it break it will break it will give spike in either way It has retraced after high of 9990. Lets see.
Price and Time Levels have been marked on the chart. Please adhere to the time schedule strictly. Candle marked in the green is going to be Pivotal and will decide the future trend for the commodity.
eyes on wti spot 70$ stya blw looks dwn 69--68.20$ in mcx stya blw 5880 looks dwn fall only till 5810--5740+++++ yes uper hurdel 71.55 or in mcx 5911 abv mkt may be up side turn
Note - One of the best forms of Price Action is to not try to predict at all. Instead of that, ACT on the price. So, this chart tells at "where" to act in "what direction. Unless it triggers, like, let's say the candle doesn't break the level which says "Buy if it breaks", You should not buy at all. ======= I use shorthands for my trades. "Positional" - means You...
r rally base rally set up to catch all the pending orders...its for edu purpose only
I am expecting a Upside rally in Crude Oil in next 2-3 months. The reason is after a big dip now Crude Oil is taking support at a Major support level and forming W pattern.
CrudeOil important levels to watch are as follows 📍 Support: 6155 📊Sell below: 6155 only on 15 minute candle closure below the level. 📉Target 1: 6100 📉Target 2: 6050 📍 Resistance: 6225 📊 Buy Above: 6225 only on 15 minute candle closure Above the level. 📈Target 1: 6290 📈Target 2: 6355 ⚡⚡ Remember each level will act as a support and resistance...
In the current scenario, consider initiating a long position if and only if a candle sustains above the 6053 level. On the other hand, for a short position, wait for the level of 5983 to be broken, ensuring that at least one candle maintains its position below this level. Please confirm if these levels are suitable for you by commenting and liking. 👍
TimeFrame: 45 Mins The parallel channel in the market suggests a prevailing trend. After a recent upward movement, there's currently a downside trend of more than 50 points. Additionally, the formation of three bottoms indicates a potential reversal in the direction of the trend after touching parallel support Give it a thumbs up if you agree and support👍 🚀
Disclaimer: This analysis is solely for educational purposes and does not make me a SEBI registered analyst. If you found this analysis helpful, I encourage you to like and share it. Your observations and comments are also welcomed below. Your support, likes, follows, and comments motivate me to consistently share valuable insights with you. 🔍 More Analysis &...
Market has created a inverted head and shoulder pattern which indicates market is bullish.
CRUDEOIL is about to give a good upside impulse if it proves the above theory.
Crudeoil- Breaks the trendline-begins the bull race 200SMA and Monthly CPR are the main defenders now If crudeoil manages to clear both defenders we can expect a bull rally And we can easily achieve profit goal
🔸 Timeframe: 4 hours 🔸 Strategy: Long Crude oil prices witnessed a decline as they were unable to breach the resistance at 6225, leading to a downside. It's crucial to note that the market dynamics might undergo a shift, especially considering the influence of upcoming manufacturing data from both China and the USA. 🔸 Resistance: 6279 🔸 Support: 6142
Crudeoil - at the verge of trendline breakout Monthly CPR is narrow Buildup near the trendline resistance indicate high probability of breakout Price can't reach previous swing lows indicating strong buying pressure #crudeoil
Earlier, we had taken a long trade on crude oil based on trends. Now, a slight pullback is expected. I've marked the levels I'm playing with and my position. 6200 has been rejected many times already, and expecting it to be rejected this time as well. The targets are not much. I'm expecting only 3-4% in profit and -2% loss at max. Manage risk accordingly.
This is the image which I shared with you a few days back, It is a very crucial day today and trade carefully. Buy only 6266, if broken decisively. Disclaimer: I am not a Registered Analyst with any National/International Regulatory Agency. Please consult your financial advisor before making any decision. I will not be responsible for any of your...
Crude oil has given a very good fall. But has it bottomed out? From the charts, we can see 5700 levels is where crude has formed the nearest bottom. Also, the swing high is 6000. I will go long if 6000 is taken out in the next couple of days. Otherwise, I will not be trading on crude.