Sell on highSellers can use 7,100 for going short per previous high. If breaken above 7,200 may lead 100+ & 600 + ponts for short term per fib series confirmation.
And down side looks weeks below 6,600.
Mcxcrudeoiltips
crude oil in monthly demand zoneBuy crude oil from 4800 and sL 4630
CRUDE IS IN GOOD DEMAND ZONE IT WILL GIVE YOU GOOD TARGET
ENTRY ON 4800
sL 4615
TARGET 5200
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Will MCX Crude oil Come Back to 5500?Crude oil has broken March 2020 support trendline today. That is indicating a direct sell signal. If crude crossover & closes above to 5160 levels, then it can come out from the downtrend. And we may see 5300 - 5500 again.
According to the current breakout, MCX crude oil may hit the following levels: 4800 - 4760 - 4660 - 4590
MCX Crude oil: Ascending Triangle Pattern (TP 5112)Crude oil is forming Ascending Triangle Pattern. According to the monthly chart and chart pattern analysis, the crude oil rally will not stop here. It will keep moving forward for levels of 5160 - 5300 - 5600+ .
MCX crude oil target for intraday traders is 5112 level.
CRUDEOIL MAY MOVE UPSDIE TILL 4396/4428MCX CRUDEOIL MARCH may move upside till 4396/4428 after giving the profit booking on Friday's opening market. It's today's support is near
4284, which could be taken as stop loss.
MCX:CRUDEOIL1!
Crude oil is bearish near-term - Elliott wave analysisThe crude oil started the bullish Elliott wave on the 4-hour timeframe. A new low, followed by a three-wave recovery to roughly 3760 - 3660 - 3470 can be expected before the uptrend resumes.
If there will be the upside breakout of wave 5 ( Protective Stop: 3980 ), then it's a failure of the Elliott wave pattern. What happens if it breaks wave 5? I will update it in my next post.
Identifying the Crude Oil Price Next Big MoveAccording to this chart, MCX crude oil is trying to climb upward. It has started upside rally from the beginning of May.
Here, I have applied Volume, DMI, MA, and Fib Retracement to identify the next move. Moving average of 50 & 200 is throwing direct up signals by crossover. And here, ADX is less than 25 but +DI above the -DI. Hence, we have chances to see slow movements.
Smart investors can buy for 3260 - 3300 - 3360 - 3400 levels.
In the previous trading session, it has created a Doji. It’s a direct sign of a reversal or trend continuation. But if it breaks the support line, the crude oil will fall to 88.6% (2982) - 78.6% (2735) of Fib retracement levels.
Crude oil Price Limited Downside, Big Upside The trend is making a symmetrical triangle.
In the symmetrical triangle, you can see the trend is descending, and it will continue to fall up to the particular targets, which are shown in the charts (T1 2886 & T2 2800 ).
After knocking the lower ascending trendline with higher lows (support), It will bounce to the upper descending trendline with the lower highs (resistance). After that, If the trend makes consecutive candles, there will be an ascending trend. B ut don't sell if the trend falls and crosses the stop loss.
Crude oil Forecast: Using Fibonacci Retracement LevelsWas That the Top in Crude oil?
Crude oil price is running nearby a 78.60% retracement level, and it can act as support. Hence, trade with the trend: sell positions executed around 78.60% retracement level area for the targets of 2660 – 2600 – 2560 – 2500.
For long-term investors: they can hold for 2410 – 2320 levels.
Don’t sell crude oil above the 2740 level. It can start raising for 2980 – 3260 levels.
Crude oil Buy / Sell Based on FIBO / Gann - INTRADAYAs per my analysis Crude oil is on Sell Trend , Sell at 3080 Stop loss level at 3104 Target Expected 3031 / 2999
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Crude oil Intraday Trend Analysis & TipsAs per this chart, MCX crude oil is looking upside. Trend continuation Targets: 2900-3000
Breakout Targets: 2390-2160
