Wish You Merry Christmas ! And Happy New Year 2018
Its been quite a while, we are watching crudeoil's decline, after an energetic run which stopped around 77. prices are juggling between 50and 54 since quite long, 52.20 area always ensured enough supply which in my opinion is a demand zone now. I would suggest going long for 55 with placing SL at 51.90.
I think there is a small opportunity to go for a counter trend trade with range as shown in the chart
NYMEX:CL1! Monthly Chart: ABCD Pattern on process. (D wave in making). T arget is $72 by mid June 2018. Also it is in safe buy zone = above $50. ( Trading above 0.618 of Fibo retrace of B to C wave). below $41 pattern gets nulled. Do Not to trade.
Crude oil has been in a downtrend for the last week, we can expect a retracement till 68.50$. We could see resistance around those levels to continue lower towards 61$. Short term traders can buy with a SL 66.80
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short crude near 69$
Well, with the strategies applied, I think it will make a bullish reversal at 62.95, but the trend has not yet given a definitive answer. I'll wait, if it will change. Bene, con le strategie applicate, penso che farà un'inversione rialzista a 62,95, ma la tendenza non ha ancora dato una risposta definitiva. Aspetterò, se cambierà.
Bullish cypher will form at 60 $ if price will be reach in next week strong buy second indication as the past one bullish strong engulfing s 50% support is there at this level as the demand zone near 60$ if price come MCX crude 3950-70 k then strong buy recommended
fibbo anylz for sell today just pull back rally profit booking for seller
Bearish ABCD with Cyper and After That confirn Day bearish Engulfing cover 4 days going down down up to 61$ (mcx 3975)
Crude oil approaching short term zone after a period of consolidation. Bearish breakdown most likely scenario.
currently bullish on crude if break resistance 61.75 it will make new high
Hi, We have Potential Short setup developing crude oil hourly chart. Please refer chart for details. Trade with care, Gulz
Moves below 200 MA MACD BEARISH.Targets 59.5/57.SL 64.50
Negative divergence on MACD charts- Wave 5 ending to yield 2-3%. Cover at 63.5/64. SL 67