Crude Oil may go for uptrend on 17-102024Crude touched 69.650 in last trading session an now it seems to go for uptrend on todays session (17-10-2024) it may touch the level of 72 to 72.200 if it crosses 71.400 in todays session but for this first it have to break the level of 70.900 currently its hovering near to this level , lets see how it goes....
USOUSD trade ideas
Navigating Change: The Impact of SEBI's F&O PolicySEBI's new rules for F&O traders will take effect on November 20. The changes include increasing the contract size for index derivatives from Rs 5-10 lakh to Rs 15-20 lakh, which i believe is not a good idea. They are also reducing the number of weekly expiry options for index derivatives, which i see as a positive change. However, the decision to eliminate weekly expiry for Bank Nifty options is viewed negatively.
It's hard to understand what SEBI is trying to achieve. i think the chairman believes she is making smart decisions, but it feels quite the opposite. It seems like they want to take more money from retail investors while claiming to act in their best interest. Increasing taxes, raising contract sizes, and removing Bank Nifty weekly expiration's doesn’t seem helpful for the stock market or retail traders. Retail investors and traders play a crucial role in providing liquidity for institutional investors, generating tax revenue for the government, and maintaining market vitality. However, it appears that SEBI primarily favors large traders and investors, which may seem unfair to the retail segment.
Instead of educating retailers, there appears to be a focus on restricting their earning opportunities in the stock market. In the future, this may leave only major players able to trade in India's stock market. SEBI should realize that there are many stock markets in different countries, and if retail investors and traders face restrictions here, they will move on to Forex or US stocks, which often offer higher leverage and lower brokerage fees. Retail traders will trade regardless.
The solution should be to educate investors and give them the freedom to make their own choices. I hope that in the future, SEBI will have a knowledgeable chairman who understands these issues better.
Crude Oil Chart Pattern for 15 Oct 2024Crude faces heavy selling after breaking support as predicted in my last idea and same for the cuurent scenario again it comes to crucial level of support may be we can see minor pullback to zone of 72.300 to 600 and then selling of more than 2.5 to 3% ,let's see how its going to move today.
Crude WTI currently on Support Zone Crude WTI currently on support zone and for the starting of session may be we can see pullback to resistance zone , it faces high rejection in last session and currently roaming on a zone of support , we can see a pull back to 74.800-900 range and if it breaks then it may goes to Resistance from here may be it can try to break resistance zone but if it lags in pullback and goes below support zone we can see the dip of atleast 2 to 3% easily before the closing.
Crude WTI until 71.95 not break buy on dip Target 75.42 ,76.78 Crude WTI until 71.95 not break buy on dip Target 75.42 ,76.78 ,79.58 ,81.85
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 buy on dip until recent low not break 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
usoilHere’s a refined description based on your input:
My analysis on crude oil focuses on the **15-minute timeframe**, using pure **price action** to identify key **support levels**. I rely on observing **price movements** to find areas where the market consistently reacts, highlighting potential reversal or breakout points. My approach avoids any indicators, emphasizing **raw market structure** and recent price highs and lows. By analyzing the **strength of these support levels**, I aim to predict future price behavior with accuracy.
USOIL Support and Resistance levels You're referring to the USOIL (West Texas Intermediate Crude Oil) futures contract!
As of my last update, the current price of USOIL is around 68.50-69.50.
Here are some key levels related to the USOIL contract:
Resistance Levels: 70.00, 72.00, 74.00
Support Levels: 66.00, 64.00, 62.00
Fibonacci Levels: 23.6% retracement of the 2020-2022 decline is around 67.40, while the 38.2% level is around 70.80
Trend Lines: The pair has been trending upwards since the March 2020 crash, with a long-term trend line around 42.00
Pivot Points: Daily pivot points: S1-67.15, R1-70.25
Crude Oil on a down hillCrude OIl CMP $67.52
Inverted V is a directional sell signal. Its most imp support is at $65..50/63 . Break of the same will mean further weakness. Its next support is at $44.
In my last post on Feds action I had stated that the real danger is not increasing interest rates by Fed but reducing them. They will reduce interest rates when then they see deflationary threat. The threat is real. I posted CRB index the other day. Crude is an imp component of the Index and it is showing weakness. In its next meet on 18th Sep they have further reduce the interest dates to stoke inflation if crude breaks $63. This will being in the next round of selling in the Equity mkts. So will advice not to be in a hurry to buy. The correction is still not done.