Crideoil - MCX - May 21 (Crude Oil Futures) encountering support at 6540 on the 1-hour timeframe.
Potential next resistance level at 6484 if price breaks below current support.
Target 1 - 6480
Target 2 - 6460
MCL1! trade ideas
Crude Oil MCX Future Technical Analysis, 20 May📈 Crude Oil MCX Future Technical Chart Analysis - 20 May, 2024
📊 Range Trigger Point: 6615
📉 Day Range: 132
📈 Buy Above: 6612
💼 Average At: 6596
🎯 Buy Target 1: 6697
🎯 Buy Target 2: 6747
🛑 Buyer Stoploss: 6568
💰 Sale Below: 6580
💼 Sale Target 1: 6533
💼 Sale Target 2: 6483
🛑 Seller Stoploss: 6624
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Crude Oil MCX Future Weekly Technical Chart Analysis 20-24 May📈 Crude Oil MCX Future Technical Chart Analysis:
📈 Weekly Levels for 20-24 May, 2024:
📊 Weekly Movement Point: 6662
📉 Weekly Range: 260 Point
💰 Buy Above: 6576
💼 Average At: 6545
🎯 Buy Target 1: 6823
🎯 Buy Target 2: 6922
🛑 Buyer Stoploss: 6489
💰 Sell Below: 6514
💼 Sell Target 1: 6501
💼 Sell Target 2: 6402
🛑 Seller Stoploss: 6601
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Crude Oil MCX Future Technical Analysis for 17 May, 2024📈 Crude Oil MCX Future Technical Chart Analysis:
📈 Intraday Levels for 17/05/2024
📊 Range Trigger Point: 6615
📉 Day Range: 132
💰 Buy Above: 6612
💼 Average At: 6596
🎯 Buy Target 1: 6697
🎯 Buy Target 2: 6747
🛑 Buyer Stoploss: 6568
💰 Sell Below: 6580
💼 Sell Target 1: 6533
💼 Sell Target 2: 6483
🛑 Seller Stoploss: 6624
Crude buy on dip till recent low not break, we will see 6900 +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
Crude Oil MCX Future Technical Chart Analysis for 16 May 📈 Crude Oil MCX Future Technical Chart Analysis: 16 May, 2024
📊 Range Trigger Point: 6551
📉 Day Range: 162 Points
💰 Buy Above: 6515
💼 Average At: 6496
🎯 Buy Target 1: 6651
🎯 Buy Target 2: 6713
🛑 Buyer Stoploss: 6461
💰 Sell Below: 6477
💼 Sell Target 1: 6451
💼 Sell Target 2: 6389
🛑 Seller Stoploss: 6531
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#Crudeoil update | MCX - May 10
Strong resistance level observed, lacking buying momentum for breakthrough.
Expect price movement in either direction, prepare entry orders accordingly.
Crude faces resistance at 6677, with a projected downside of 70 points.
Crude Oil MCX Future Weekly Technical Chart Analysis 13-17 May 📊 Crude Oil MCX Future Technical Chart Analysis 13-17 May, 2024
🎯 Weekly Trigger Point: 6651
🎯 Weekly Range: 255
📉 Buy Above: 6592
📉 Average At: 6562
🎯 Buy Target 1: 6809
🎯 Buy Target 2: 6906
🛑 Buyer Stoploss: 6507
📉 Sale Below: 6531
🎯 Sale Target 1: 6493
🎯 Sale Target 2: 6396
🛑 Seller Stoploss: 6616
Don't forget to reciprocate your love by boosting, following and responding, your actions fuel my efforts to do even better for you!
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CRUDE OIL GANN ANALYSIS 3 HOURS TF 11 MAY 2024...Chart shows the Cause and Effect on the recent fall on Crude Oil futures on MCX...
The chart is self explanatory.....
First move is the Cause...
and
Second move is the Effect...
Its a minor cause and effect relation...
But the relation comes from ATH which is the main reason....
Happy Trading !!!
Crude Oil MCX Future Technical Chart Analysis for 6 May, 2024📊 Crude Oil MCX Future Technical Chart Analysis
🎯 Range Point: 6546
🎯 Weekly Range: 108
📉 Buy Above: 6607
📉 Average At: 6594.00
🎯 Buy Target 1: 6613
🎯 Buy Target 2: 6654
🛑 Buyer Stoploss: 6571
📉 Sale Below: 6581
🎯 Sale Target 1: 6479
🎯 Sale Target 2: 6438
🛑 Seller Stoploss: 6617
🙏 Humble Plea:
Hey there! Your support is like the oil in my engine - keeps me running smoothly! Hit that boost, follow, and engage button. Your spark keeps my trading fire burning bright!
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Trading's like drilling for oil - full of risks and rewards! Safeguard your positions with stop-loss orders. Trade smart, protect those profits, and remember, fortune favors the bold (and the witty)! 💰😄
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Let's chat! I'm like a seasoned oil prospector, navigating the Crude Oil market with precision. Using a mix of technical analysis and market insights, I pinpoint the best drilling sites for profit. Drop me a line, and let's strike black gold together!
Crude Oil MCX Future Weekly Technical Chart Analysis 6-10 May📊 Crude Oil MCX May Future Weekly Technical Chart Analysis 6-10 May
🎯 Weekly Movement Point: 6546
🎯 Weekly Range in Points: 465
📉 Buy Above: 6827
📉 Average At: 6773
🎯 Buy Target 1: 6833
🎯 Buy Target 2: 7011
🛑 Buyer Stoploss: 6672
📉 Sale Below: 6718
🎯 Sale Target 1: 6259
🎯 Sale Target 2: 6081
🛑 Seller Stoploss: 6873
Humble Request:
Your support means the world! Boost, follow, and respond to fuel my drive to serve you better!
Disclaimer:
Trading carries risks, including potential capital loss. Safeguard your investments with stop-loss orders for risk management and loss limitation. Trade responsibly.
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Analysis Description:
The Crude Oil MCX Future Technical Analysis suggests a cautiously optimistic stance for traders. With a Weekly Movement Point at 6546 and a Weekly Range of 465 points, expect moderate market volatility. Buyers may consider entering positions above the Buy Above level of 6827 or at the Average At level of 6773, targeting Buy Target 1 at 6833 and Buy Target 2 at 7011. Caution is advised, with a Buyer Stoploss set at 6672 to manage potential losses in case of a downturn.
Conversely, sellers could explore opportunities below the Sale Below level of 6718. Sale Target 1 is set at 6259, followed by Sale Target 2 at 6081, indicating potential profit-taking zones. Manage risk effectively with a Seller Stoploss at 6873. Keep a close eye on market dynamics, adjusting strategies based on sentiment, news, and risk management principles to navigate the Crude Oil MCX Future successfully.
CRUDE OIL ANALYSIS 28 APR 24 LONGCRUDE OIL ANALYSIS 28 APR 24
currently crude oil is trading at 6995
and resistance zone is around 7030 if crude oil sustains to maintain above 7030 then it will be bullish
if not then if will fall down to support zone 6756
Crude oil - Demand zoneMCX Crude oil has fallen from 7278 to 6562 level almost 10%. At current juncture price is trading at 6615 level trader can go long around 6550-6500 level for the target of 6900, 7200 level respectively.
Crude sell on rise continuesly sell given from 7250 nearOn 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
Crude Oil looks bearish for the upcoming week with HS patternProbable HS pattern in the making. We should wait for breakdown of neckline and then a retest to take a position based on this pattern. SL will be breaking of the neckline.
Disclaimer: Not a financial advice. I have short positions in crude oil.
Crude Oil Week April 29 to May 03
Time Frame: 1 Day
1. Rejection candles from Support zone and 50 EMA. Price has not allowed to break these key levels
2. Previous trend is bullish. Level breakout and under retracement
3. 50 and 200 EMA golden crossover
Time Frame: 4 Hr
Crude oil has bounced from previous key level(Resistance converted to support zone)
1. Trend is Bullish
2. Filled FVG and taken support for 50 EMA
3. Bounced from 200 EMA.
Entry above : 7046
Target: 7257 ( 211 Points)
Stoploss:6916 (130 Points)
Crude Oil MCX 20 May Future Weekly Technical Chart Analysis📊 Crude Oil MCX Future Technical Chart Analysis
📅 20 May Future
🎯 Range Point: 6999
🎯 Weekly Range: 299
📉 Buy Above: 6929
📉 Average At: 6894
🎯 Buy Target 1: 7184
🎯 Buy Target 2: 7298
🛑 Buyer Stoploss: 6829
📉 Sale Below: 6858
🎯 Sale Target 1: 6814
🎯 Sale Target 2: 6700
🛑 Seller Stoploss: 6958
Don't forget to reciprocate your love by boosting, following and responding, your actions fuel my efforts to do even better for you!
#Crude #CrudeOil #CrudeOption #CrudeFuture #MCX #MCXLevels #OilFuture
Crude Sell on rise given from 7350-7360 enjoy huge huge profit 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
CRUDE OIL ANALYSIS 17 APR 2024 SHORTCrude oil analysis 17 Apr 24 short
currently crude oil is trading around 7041
all the levels are given in chart i guess i made it clear over there
R/R - 1:2
exacting crude oil to fall by 2-4.5%
Major resistance area is 7318
minor resistance area is around 7194
Major support area is around 6672
minor support area is around 6853
This analysis is for educational purpose only.
any queries wrt to the analysis feel free to ask
Crude Oil Weekly Technical Chart Analysis 22-26 April
📊 Crude Oil MCX 20 May Future Technical Chart Weekly Analysis
🎯 Range Point: 6981
🎯 Weekly Range: 374
📉 Buy Above: 7049
📉 Average At: 7005
🎯 Buy Targets 1: 7212
🎯 Buy Targets 2: 7355
🛑 Buyer Stoploss: 6924
📉 Sale Below: 6961
🎯 Sale Targets 1: 6750
🎯 Sale Targets 2: 6607
🛑 Seller Stoploss: 7086
Please follow/boost or respond what do you think of this trade. You actions fuel me to work ever harder to provide directional trade and save the traders from any shock from the market.
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Crude Oil MCX 20 May Future Weekly Technical Analysis
Traders eyeing the Crude Oil MCX 20 May Future should prepare for a dynamic week ahead, marked by clear levels and a defined weekly range.
Key Levels:
Range Point: 6981
Weekly Range: 374 points
Buy Scenario:
Traders seeking long positions should monitor the market closely for a breakout above 7049. An entry at 7005 could provide a solid average position. Ambitious targets for buyers are set at 7212 and 7355, indicating potential bullish momentum. To mitigate downside risk, a prudent stop-loss is advised at 6924.
Sell Scenario:
Alternatively, a drop below 6961 may present opportunities for short positions. Sellers targeting 6750 and 6607 should remain vigilant. Implementing effective risk management strategies is essential, with a stop-loss set at 7086 to limit potential losses.
As traders navigate the Crude Oil MCX 20 May Future, a comprehensive understanding of these levels and disciplined risk management practices will be critical for capitalizing on potential opportunities while managing risks effectively.
Crude Oil Prices Surge Amid Geopolitical Tensions and Economic CIntroduction:
The global crude oil market experienced significant turbulence as prices surged by more than 3%, surpassing the $85 per barrel mark. This escalation followed reports of large explosions in Iran, Iraq, and Syria, presumed to be the result of Israeli attacks. Concurrently, various geopolitical factors, coupled with economic uncertainties, contributed to the volatility witnessed in the market.
Geopolitical Developments:
According to reports, Israel launched missiles targeting locations suspected to be linked to Iran's nuclear program. While the primary strike was believed to have targeted an Iranian nuclear facility, the extent of the attacks on Iraq and Syria remains unconfirmed. These events intensified concerns over regional stability, prompting a swift reaction in oil prices.
Impact of Sanctions:
The reimposition of US sanctions on Venezuelan oil further exacerbated the upward pressure on oil prices. Additionally, the prospect of new European Union sanctions on Iran added to the market's apprehension, reflecting the delicate balance of geopolitical forces influencing global oil dynamics.
Demand-Side Concerns:
Despite the geopolitical tensions driving prices higher, concerns about weakening demand persisted. March economic data from China, a key oil importer, revealed signs of sluggishness, compounding market anxieties. Moreover, speculation surrounding the US Federal Reserve's stance on interest rate cuts, with projections of potential postponements until the following year, contributed to the apprehensive sentiment among investors.
Key Economic Indicators:
In the upcoming period, market participants will closely monitor key economic data releases, including the German Producer Price Index (PPI) month-on-month from the Euro Zone and Retail Sales month-on-month from the GBP Zone. These indicators will provide crucial insights into the health of respective economies and their potential impact on global oil demand.
Technical Analysis:
Technical indicators suggest that crude oil prices may find support at $83.70 per barrel, with resistance anticipated at $86.60. Similarly, Crude oil MCX prices are expected to encounter support around 6800, with resistance levels at 7080. These levels serve as important reference points for traders navigating the current market environment.
Conclusion:
The recent surge in crude oil prices underscores the intricate interplay between geopolitical tensions, supply-side disruptions, and demand-side considerations. As global economic uncertainties persist, market participants remain vigilant, closely monitoring developments that could sway oil prices in either direction. Amidst this backdrop, robust analysis and informed decision-making are imperative for stakeholders navigating the complexities of the oil market.
possible shortwhole week spent in consolidation, now if it trade below 85 support, then a 2% drop could be there...
