Crudeoil should find resistance at falling trendline and pitch fork resistance line . The range comes at $ 60-61 where one should bool full profit if in buy and create fress short with stop loss abv 62.2 for target 58 & 56. Commodity is approaching +2 SD of 20 Day BB. Normally distribution says that at +/-3 SD 99% of observation should fall. One can take 3 SD as...
Midterm forecast:
60.15 is a major resistance, while this level is not broken, the Midterm wave will be downtrend.
We will close our open trades, if the Midterm level 60.15 is broken.
Technical analysis:
While the RSI resistance #1 at 55 is not broken, the probability of price increase would be too low.
A trough is formed in daily chart at 50.90 on 06/11/2019,...
Hi all, Crude Oil dropped as we expected way, now its kind a making corrective rally but don't forget that this short term trade
***Use Proper Risk and Money management Rule if you don't had a one please LEARN IT !!!! and meanwhile watch the play don't trade
"Market is Full Opportunities "
If you have any Question feel free comment below and don't forget to...
Crudeoil short term bullish if 54.58 taken out then 55.72 to 57.05 possible in three days. if 54.58 gets rejected then 50.66 downside possible and continuously will be bearish till 42 again.
As per the trend lines, Crude oil is trending sideways to negative bias for the day.....Support of MCX Crude for the day @ 3570 and resistance stood at 3680 levels.
As per my view, crude oil is trading sideways in 4 Hrly chart. Today's move is just news based and short covering. Any up move above 54.90 levels may confirm the Bullish signal.
According to chart of Crude oil in hourly time frame it seems that it is a bearish flag pattern breakdown from its high.Wait till closing of Hourly candle below the channel because volumes are very low.
