crude oil Analysis of 28 june 24Hello,
Crude oil analysis, Wait for green line break out, Red line mark as support & Resistance.
This Analysis Based on price action, no any indicator used.
please comment if you like it.
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Crude oil for professionals #Divergence #Trading crude oil for professionals #Divergence #Trading
Is trading in crude oil profitable?
When there is an overkill in supply, traders sell crude oil. Rising demand makes crude oil prices higher. When positive market trends abound, there is a tight convergence between positive factors, making prices rise, and vice versa. You need to know what drives oil as a commodity before trading to make a profit.
Which crude oil is best to trade?
Brent crude and WTI are the two most well-known types of crude oil. In fact, Brent crude is used as the world's benchmark for oil prices – almost two thirds of futures traded are on Brent oil.
What is the best time to trade crude oil?
A popular time to trade oil is between 20:00 (UTC+8) and 13.30 (UTC+8) – which is when the New York Mercantile Exchange (NYMEX) is open, and the market often sees high liquidity.
Crude Oil ready for Explosive Move !Background: Crude Oil made a high of 9996 during the Ukarine war which also marked the end of wave 3. This followed 4th wave with a flat correction (Marked as ABC) which finished at around 5290.
Current Scenario : We are in minor wave 3 of sub wave 3 of major wave 5 (shown on chart)
Trading Strategy : Buy on Dips. The entry, stop loss & target are mentioned on the chart
CRUDEOIL - BREAKOUT - June 21Technical Outlook: Ascending Triangle Hints at Upside Breakout
Chart Pattern: Ascending Triangle (developing)
Current Price: Below 6820 (as specified)
Breakout Levels: Upside: Above 6820
Stop-Loss: 6790 (placement below the triangle)
Targets1 -- 6850
Targets2 -- 6860
Targets3 -- 6890 (based on the triangle's height)
News Catalyst: Increased summer demand and Middle Eastern tensions potentially pushing oil prices towards $90, according to market analysts.
Analysis:
The current price action suggests a forming ascending triangle, which is a bullish continuation pattern. A breakout above the triangle's upper trendline (at $6820) could signal a move towards the mentioned targets.
Confirmation: A confirmed breakout requires a daily close above $6820 with increased trading volume.
Risk Management: A stop-loss order is recommended below the triangle's support level (6790) to limit potential losses if the price falls instead.
Crude oil sell below 6800 downtrend starting soon Disclaimer -
This information is only for educational purposes, this is not for any buy or sell recommendations .
On Our Harmonic pattern indicator
based trade setup take trade as explained below :-
ENTRY -
When price breaks 30% retracement Which is D points then take Entry on Buy or Sell Trade
SL -
SL is (-3%) Which is mentioned in Chart . our SL is just above or below of Recent high or Low .
TARGET -
Target 1- (T1 : 61.8 %)
Target 2- (T2 : 88.6 %)
Target 3- (T3 : 127.2 %)
Target 4- (T4 : 161.8 %)
Please note:-
It's working on news based and volitile market very well so exit if SL hit
CRUDEOIL UPDATE - JUNE 19th Crude Oil Technical Overview: Symmetrical Triangle on Watch
Timeframe: 4 Hour
Pattern: Symmetrical Triangle (developing)
Current Price: Above 6745
Key Levels:
Bullish above 6745
Resistance: 6825 (upper trendline)
Berish below
Support: 6700 (lower trendline)
Analysis: A symmetrical triangle appears to be forming in the crude oil market. This pattern typically indicates a period of consolidation before a potential breakout in either direction.
Breakout Potential:
Upside breakout: A break above the resistance level of 6745 could signal a move towards higher prices.
Downside breakout: A break below the support level of 6700 could indicate a decline in crude oil prices.
Important Note:
The direction of the breakout will depend on upcoming news and market forces. This technical analysis should be used in conjunction with other factors to make informed trading decisions.
Intraday Trade Series #1 - Crude Oil 5th Wave Rally In my previous post, I have discussed the current nature of crude oil as either a correction or an impulse. In either scenario, it is likely that we will witness a bounce towards the 6700 levels. It appears that wave 3 has concluded and we are currently in the 4th wave, which is anticipated to conclude between 6495 and 6415. If we observe any bullish patterns such as a morning star, engulfing, or piercing on the hourly chart in the entry zone marked on chart, we can consider initiating a long trade with a minimum target of 6627. As the 5th wave in commodities tends to be larger and more pronounced, we can attempt to ride the wave by adjusting our stop loss using techniques like swing lows or the Fibonacci 38% levels once it reaches our minimum target. It is crucial to closely monitor the price action and momentum to determine if it aligns with the characteristics of wave 5.
Wave count, Entry, Stoploss, Target are indicated on the chart
Disclaimer: Please note that the information presented in this analysis is intended for educational purposes only. It is highly recommended to seek advice from a financial advisor before making any investment decisions. I cannot be held accountable for any financial losses that may arise
Crude long on breakoutCrude looking good at CMP 6669 for long if this breakout above 6662 sustains SL below 6470.
WTI Crude Oil’s pullback appears elusive beyond $78.00WTI crude oil pares the biggest daily gain in a week while posting mild losses near $79.50 early Tuesday. Even so, the black gold holds onto the previous trading beyond the 200-SMA and a downward-sloping resistance line from late April. Also keeping the energy buyers hopeful are the bullish MACD signals and upbeat RSI (14) line. It’s worth noting, however, that a 15-week-old horizontal resistance area surrounding $80.50-81.00 appears a tough nut to crack for the bulls. Following that, the quote will aim for the late April swing high of around $84.50 before challenging the yearly high marked in April near $87.70.
Alternatively, the WTI crude oil’s further decline could highlight the seven-week-old resistance-turned-support line surrounding $78.50 for sellers. However, the energy bears remain off the table unless witnessing a clear downside break of the 200-SMA support of nearly $77.90. Following that, the previous monthly bottom of $76.15 will try stopping the downside before allowing sellers to challenge the yearly bottom of $72.48 marked earlier in June.
Overall, the WTI Crude Oil price remains on the bull’s radar unless portraying successful trading beyond the 200-SMA. The upside move, however, needs validation from $81.00 and the fundamentals.
Crude oil sell on rise we will see 6330 , SL 6750 sell active Disclaimer -
This information is only for educational purposes, this is not for any buy or sell recommendations .
On Our Harmonic pattern indicator
based trade setup take trade as explained below :-
ENTRY -
When price breaks 30% retracement Which is D points then take Entry on Buy or Sell Trade
SL -
SL is (-3%) Which is mentioned in Chart . our SL is just above or below of Recent high or Low .
TARGET -
Target 1- (T1 : 61.8 %)
Target 2- (T2 : 88.6 %)
Target 3- (T3 : 127.2 %)
Target 4- (T4 : 161.8 %)
Please note:-
It's working on news based and volitile market very well so exit if SL hit
Crude Oil Intraday Technical Chart Analysis for 28 June, 2024
Here’s the script for the Crude Oil MCX Future Technical Chart Analysis:
📈 Crude Oil MCX Future Technical Chart Analysis
📆 Levels for 28 June, 2024:
📊 Range Point: 6804
📉 Day Range: 110
📈 Buy Above: 6804
💼 Average At: 6791
🎯 Buy Target 1: 6872
🎯 Buy Target 2: 6914
🛑 Buyer Stoploss: 6767
💰 Sale Below: 6778
🎯 Sale Target 1: 6736
🎯 Sale Target 2: 6694
🛑 Seller Stoploss: 6815
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#Crude #CrudeOil #CrudeOption #CrudeFuture #MCX #MCXLevels #OilFuture
Crude oil sell below 6700 avoid fresh buy at current price Disclaimer -
This information is only for educational purposes, this is not for any buy or sell recommendations .
On Our Harmonic pattern indicator
based trade setup take trade as explained below :-
ENTRY -
When price breaks 30% retracement Which is D points then take Entry on Buy or Sell Trade
SL -
SL is (-3%) Which is mentioned in Chart . our SL is just above or below of Recent high or Low .
TARGET -
Target 1- (T1 : 61.8 %)
Target 2- (T2 : 88.6 %)
Target 3- (T3 : 127.2 %)
Target 4- (T4 : 161.8 %)
Please note:-
It's working on news based and volitile market very well so exit if SL hit
CRUDEOIL BREAKOUT - June 26Timeframe: 4 Hour -- Rising wedge reversal breakout
Analysis : Crude oil has potentially broken a key support trendline on the 4-hour chart, indicating a shift in momentum. This could signal a potential downside move in the near future.
Key Levels:
Breakout Point: 6735 (Support trendline)
Target: 6655 (Based on the measured height of the trendline)
Entry: Consider entering a short position (selling) if the price breaks and closes decisively below the trendline support at 6735.
Target: Aim for a target price of 6655, which is based on the height of the recently broken trendline.
Stop-Loss: Place a stop-loss order above the trendline at 6780 to limit potential losses if the price reverses and breaks back above the trendline.
Risk Management:
Always remember to practice proper risk management. Only allocate a small percentage of your capital to this trade and use a stop-loss order to limit potential losses.
Confirmation: A confirmed trendline break occurs when the price closes decisively below the trendline with increased trading volume.
Additional Notes: This analysis is based on technical indicators and should be used in conjunction with other fundamental and market sentiment factors.
Past performance is not necessarily indicative of future results.
If you have a screenshot of the chart highlighting the trendline break and target level, you can upload it to your TradingView post to provide a visual aid for your analysis.
I hope this TradingView article helps!
CRUDEOIL UPDATE - JUNE 14
Technical Analysis:
Crude oil prices closed above a key resistance level of $65.88 on Friday.
This breakout suggests a potential continuation of the uptrend.
Target:
Crude Oil (CL) - Potential Breakout Targeting 6650 - 6700
Current Price: Above 6588
If the bulls can maintain momentum, the next potential target zone could be 6622 - 6650
Key Levels:
Resistance: 6622, 6650
Support: 6588 (broken)
The overall market sentiment and any relevant news events can impact the price movement.
This is just a technical analysis, and other factors should be considered before making any trading decisions.
Disclaimer: This information is for educational purposes only and should not be considered financial advice. Please consult with a licensed financial professional before making any investment decisions.
Crude we booked 500 points profit at 6600 avoid any buy tradenowDisclaimer -
This information is only for educational purposes, this is not for any buy or sell recommendations .
On Our Harmonic pattern indicator
based trade setup take trade as explained below :-
Early trades Buy or sell below/ above 23.6 %, safe trades buy or sell above / below 41% , after taking trade next upside or downside levels will be target ,
When reverse buy or sell signal appear then book profit on Target or trail SL to 23.6 % If trailing SL hit then early trade can be taken above or below 23.6 and safe trade can b taken above/ below 41% ..
Please note:-
It's working on news based and volitile market very well so exit if SL hit
CRUDEOIL Important Levels and Zone #Tradingview #Stocks #OptionsTopic - CRUDEOIL Important Levels and Zone
Tomorrow's movement Prediction of CRUDE OIL (Kachcha Tel Oil) CRUDEOIL appears to be in downtrend.
And this trend seems to be continuing further.
Price is above an important level of 6418.1 on charts, and as long as price remains above this level, the uptrend of stock might continue.
Tomorrow's movement Prediction of CRUDE OIL (Kachcha Tel Oil) CRUDEOIL made a major fall in previous days. This happens when sentiment changes towards negative. This fall might deepen in coming days.
Tomorrow's movement Prediction of CRUDE OIL (Kachcha Tel Oil) CRUDEOIL is bullish. The stock is trading above weekly resistance and downside can only be expected once it trades below 6382
Stock price target for CRUDE OIL (Kachcha Tel Oil) CRUDEOIL are 6493 on downside and 6585 on upside.
Stock price target for CRUDE OIL (Kachcha Tel Oil) CRUDEOIL are 6493 on downside and 6585 on upside.
Crude oil possible short for very short termCrude oil can be a possible short and can be covered after a small down move around 6400. if it breaks 6400 levels then 2nd target at 6300 and final target near 6100.
CRUDEOIL WEEKLY CHART CRUDEOIL Looks like formed a Head and Shoulder Pattern - How many of you identified.
No confirmation in breakdown.
Crude Oil Technical Analysis | MCX | June 12th - 13th Crude Oil Technical Analysis: Potential Bullish Breakout
Oil prices are rising on news of lower-than-expected US crude oil inventories and a bullish outlook for global oil demand.
Technical Analysis:
A potential bullish breakout is forming above 6570.
Trading Strategy
Entry: Long above $6570 with sustained move (>50-60 points) to confirm the breakout.
Targets:
T1: 6680 (1st profit target, +100 points from entry)
T2: 6767 (2nd profit target, +200 points from entry)
Stop-Loss: Below 6510 (placement below potential support level)
Risk Management:
Always remember to practice proper risk management. This strategy suggests a stop-loss placement 50-60 points below the entry point, limiting potential losses if the price reverses.
Disclaimer: This information is for educational purposes only and should not be considered financial advice. Please consult with a licensed financial professional before making any trading decisions.
Crude MCx buy given at 6100 , 425 points profit hold buy 6600,++Disclaimer -
This information is only for educational purposes, this is not for any buy or sell recommendations .
On Our Harmonic pattern indicator
based trade setup take trade as explained below :-
Early trades Buy or sell below/ above 23.6 %, safe trades buy or sell above / below 41% , after taking trade next upside or downside levels will be target ,
When reverse buy or sell signal appear then book profit on Target or trail SL to 23.6 % If trailing SL hit then early trade can be taken above or below 23.6 and safe trade can b taken above/ below 41% ..
Please note:-
It's working on news based and volitile market very well so exit if SL hit
CRUDEOIL UPDATE JUNE 12Crude Oil Breakout Levels (Technical Analysis, Disclaimer Applies)
Breakout Strategy:
Long Entry: Above 6510 with sustained move (>90 points) above breakout point.
Targets: 6560 - 6600 (profit targets based on potential price movement after breakout).
Stop-Loss: Below 6400 (potential loss if price falls below support).
Neutral Zone: Price remains between 6400 and 6510. No clear directional bias in this range.
Breakdown Scenario:
Short Entry: Below 6400 with confirmation (e.g., additional bearish candlestick pattern).
Target: Open (depends on market momentum after breakdown). Short sellers aim to profit from price decline.
Disclaimer: This information is for educational purposes only and should not be considered financial advice. Please consult with a licensed financial professional before making any trading decisions. Past performance is not necessarily indicative of future results.
Crude oil forming a huge triangle Crude oil will show further direction after it comes out of this pattern
Long CRUDEOIL | TARGETS 7000 & 7300 in 1-2 monthsBased on technical analysis, I believe crude oil is likely to break through the minor rejection trendline and move upwards towards the higher trendline.
At the current stage, our entry point is around 6500, with target levels set at 7000 and 7300.
Furthermore, I anticipate that this time it will break through the major trendline, initiating Wave 3 and potentially aiming for 8000.
Imp. Note: This analysis is provided for informational purposes only and does not constitute a direct recommendation to buy or sell stocks. Investors should conduct their own research and consult with financial advisors before making any investment decisions, as market conditions and individual circumstances may vary.
Market Risk: However, it's important to acknowledge the inherent risks associated with investing in the stock market, including but not limited to volatility, economic downturns, regulatory changes, and unforeseen events that can impact stock prices. It's crucial for investors to remain vigilant and diversify their portfolios to mitigate potential losses.
