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QM1! trade ideas

Crude oil going to correct ?Crude oil appears to be bearish in the near future. This conclusion can be drawn from various data points, which we will examine sequentially: Chart Patterns: Upon examining the continuous contract chart pattern for crude oil futures in the daily timeframe, we notice that the price has reached resistance, as depicted in the accompanying image. Furthermore, the candles have become smaller as the price reached this resistance point, with the most recent candle resembling a doji. This pattern can serve as an indicator of future trends. Relative Strength Index (RSI): The RSI for crude oil in the daily timeframe has reached the upper band of 70, which is considered the overbought zone. This can be interpreted as an indicator that crude oil may weaken significantly over the coming period. Trading Volumes: A careful observation of trading volumes reveals that they have flattened, or even slightly decreased. This can be another signal that crude oil may become bearish in the near future. Crude Oil Inventory Data: By analyzing the crude oil inventory data, we can infer that the supply is not as low as expected. This suggests that while the supply remains consistent, the demand is decreasing, which could lead to a drop in crude oil prices in the future. In summary, considering all these points, we can conclude that the price of crude oil may decrease in the near future.
MCX:CRUDEOIL1!Short
by TradingCraftsman
Crude Oil important levels to watchCrude Oil important levels to watch are as follows #SUPPORT: 6670 #RESISTANCE: 6720 #buy above 6720 with a strict trailing Stoploss as per your risk appetite. Expected targets mentioned below: Target 1: 6755 Target 2: 6800-6810 #Sell Below 6670 with a strict trailing stoploss as per your risk appetite. Expected targets mentioned below: Target 1: 6620-6600 Target 2: 6540 Please note that each targets may act as a support and resistance so trade accordingly. Also, this is only an educational idea and not a buy or sell recommendation please follow your own trade setup before initiating any trade. Follow us for more such information and give it a like if you appreciate the idea. Queries will be answered in the comment section.
MCX:CRUDEOIL1!
by InvestyourAsset
2
Crude Oil important levels to watchCrude Oil important levels to watch are as follows #SUPPORT: 6500 #RESISTANCE:6600 #buy above 6600 with a strict trailing Stoploss as per your risk appetite. Expected targets mentioned below: Target 1: 6690 Target 2: 6810 #Sell Below 6500 with a strict trailing stoploss as per your risk appetite. Expected targets mentioned below: Target 1: 6450 Target 2: 6290 Please note that each targets may act as a support and resistance so trade accordingly. Also, this is only an educational idea and not a buy or sell recommendation please follow your own trade setup before initiating any trade. Follow us for more such information and give it a like if you appreciate the idea. Queries will be answered in the comment section.
MCX:CRUDEOIL1!
by InvestyourAsset
Crude Oil Analysis -01 AugHaving completed the month of July with a large price movement, we are starting the august cautiously. Refer the Channel and go with the flow. For positional traders, the crude is still bullish having the Brent crude oil sustaining above $80.Below $79, could see selling pressure. For MCX traders intraday, refer the channel and above the channel line go long. Any weakness at the channel will be opportunity to for short. Disclaimer: Ideas listed are My Trading analysis and Notes/journals. Not a RA These are NOT recommendations for Buy /Sell. Do your own analysis before jumping into any trade/Investment. Learn and then Earn.!
MCX:CRUDEOIL1!
by iTechnIndica
Crude Oil important levels to watchCrude Oil important levels to watch are as follows #SUPPORT: 6440 #RESISTANCE: 6475 #buy above 6475 with a strict trailing Stoploss as per your risk appetite. Expected targets mentioned below: Target 1: 6530 Target 2: 6600 #Sell Below 5440 with a strict trailing stoploss as per your risk appetite. Expected targets mentioned below: Target 1: 6390 Target 2: 6340 Target 3: 6270 Please note that each targets may act as a support and resistance so trade accordingly. Also, this is only an educational idea and not a buy or sell recommendation please follow your own trade setup before initiating any trade. Follow us for more such information and give it a like if you appreciate the idea. Queries will be answered in the comment section.
MCX:CRUDEOIL1!
by InvestyourAsset
Crude Oil on Fire ..Weekly bullish divergence seen 3 days beforeCrude oil bullish divergence is a valuable concept in technical analysis that can help traders identify potential trend reversals and make more informed trading decisions. This article will explore what bullish divergence is, how to spot it on crude oil price charts, and practical tips for incorporating it into your trading strategy. Understanding Bullish Divergence: Explain the concept of bullish divergence in detail, emphasizing how it occurs when the price of crude oil makes lower lows while the RSI indicator makes higher lows. Emphasize the importance of this pattern as a potential early signal for a trend reversal. Identifying Bullish Divergence: Provide step-by-step guidance on how to spot bullish divergence on crude oil price charts. Include annotated examples to illustrate the concept visually, making it easier for readers to understand and apply. Confirming with Other Indicators: Highlight the significance of using multiple indicators to confirm bullish divergence signals. Suggest pairing RSI with other technical indicators like Moving Averages, MACD, or Stochastic Oscillator to strengthen your analysis. Timeframe Considerations: Explain how the timeframe you choose can impact the significance of bullish divergence. Discuss the differences in signals and reliability between shorter-term and longer-term charts and how this may influence your trading approach. Risk Management and Stop Loss: Emphasize the importance of risk management when trading crude oil based on bullish divergence signals. Encourage readers to set appropriate stop-loss levels to protect their capital in case the trade doesn't play out as expected. Fundamental Analysis: Acknowledge that technical analysis, including bullish divergence, is just one piece of the puzzle. Encourage readers to also consider fundamental factors such as geopolitical events, supply and demand dynamics, and economic indicators that can affect crude oil prices. Backtesting and Practice: Suggest the use of backtesting to validate the effectiveness of the bullish divergence strategy over historical data. Encourage readers to practice on demo accounts before implementing the strategy with real money. Real-Life Examples: Share real-life examples of successful trades using bullish divergence in the crude oil market. This can help readers relate to the strategy and see its potential application in live trading scenarios. Patience and Discipline: Stress the importance of patience and discipline when trading based on bullish divergence. Remind readers not to rush into trades and to stick to their trading plan, avoiding emotional decisions. Conclusion: Summarize the key points of the article and reiterate the value of understanding and using bullish divergence in crude oil trading. Remind readers that mastering this powerful tool requires continuous learning, practice, and adaptability to changing market conditions.
MCX:CRUDEOIL1!
by digitaltrader003
Crude Oil important levels to watch Crude Oil important levels to watch are as follows #SUPPORT: 6080 #RESISTANCE: 6160 #buy above 6160 with a strict trailing Stoploss as per your risk appetite. Expected targets mentioned below: Target 1: 6240 Target 2: 6320 Target 3: 6395 #Sell Below 6080 with a strict trailing stoploss as per your risk appetite. Expected targets mentioned below: Target 1: 6000 Target 2: 5900 Target 3: 5820 Please note that each targets may act as a support and resistance so trade accordingly. Also, this is only an educational idea and not a buy or sell recommendation please follow your own trade setup before initiating any trade. Follow us for more such information and give it a like if you appreciate the idea. Queries will be answered in the comment section.
MCX:CRUDEOIL1!
by InvestyourAsset
crude oil technicalCrude oil traded with range-bound sentiments, as it ended with a 0.75% loss, where the up move is possible while taking technical support of 6100, and if the 6500 levels are retested the sentiments may change, as per the 1D chart, it is in a "Right Angled Ascending Broadening Wedge", which indicates a sideways movement, and resistance is placed at 6316 and support at 6196, indicating that if support is broken, we can see further downside, up to the range of 6000 levels. Research Report target Buy Call -- Buy above 6236 for 6320-6350 Keeping SL 6204. Sell Call -- Sell Below 6188 for 6159-6134 keeping SL 6209.
MCX:CRUDEOIL1!Long
by Shubh181995
CrudeOil Important levels to watch !!Crudeoil important levels to keep an eye on according to hourly timeframe are as follows; #Cmp= 6150 # Support = 6020 the region of 6040 to 6020 is acting as a demand zone which means price may bounce back from the region as majority of buying positions can be expected in the demand zone. expected targets on downside after the break of support Target 1: 5910 Target 2: 5820 # Resistance = 6190-6200 Currently the price is below the trendline resistance marked in red which means price may face some rejection at the trendline. Expected target on the upside after the break of resistance target: 6314 Follow us to get timely updates of such insightful ideas. Give it a like if you appreciate the idea. queries will be answered in comment section.
MCX:CRUDEOIL1!
by InvestyourAsset