Crude oil is more profitable, and it can be shorted at night und
Crude oil in early trading showed 77.2, the lowest point in more than a few days, in the profit-making period. In the evening, focus on the pressure in the 78.5-78.7 range. After the pressure consolidation, you can intervene with empty orders. Crude oil operation is recommended to sell at 78.5-78.7, risk control 79.0, target 77.2-76.5.
Crude oil is bullish for several reasons:
1. The rebound pattern of crude oil is relatively complicated, and it has evolved into a double three-wave pattern at present, and there is still a high point in the short term.
2. The intraday pressure is 78.5~79.0, and the support is 77.2~76.5.
MCX:CRUDEOIL1!
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Mcxnickeltips
MCX Nickel Parabolic Curve Pattern & TipsThis is MCX Nickel weekly chart. Price projection is based on Parabolic Curve & Fib Retracement.
As mentioned in the chart, At the end-point of Base 3, indicated by the "X" symbol, the nickel could double in the shortest period of time. Targets: 1426 - 1632 - 1778 - 1854 - 1962 ( 2.618 - Based on Fib Retracement ).
If nickel breaks the curve line, it can collapse up to "X" or base 3 deep. Hence, we can see the following targets from the selling point: 1130 - 1050 - 960 - 850 and below .
Remember, trade with the direction of the breakout. And stop-loss above/below breakout level.
MCX Nickel Detailed Trend Forecast & TipsHere, I have used Elliott wave theory, Fibonacci Retracement, and MA ( 30 & 62 ) to identify the next move. At present, MCX nickel in a corrective wave. We may see a reversion bounce off here. It can be up to 38.20% to 23.60% of the retracement level. Wherein, 38.20% retracement level will act as a resistance and 50.00% vice versa.
In other words, nickel will start raising for 1076 - 1090 - 1100 level. Dynamic resistance breakout will lead the prices for a 23.60% retracement level. Intraday or positional trader can hold 1080 level.
If nickel breakout the strong support and 50.00% retracement level, don't buy. That can slip immediately for a 61.80% retracement level.
Also, don't forget to wait for a crossover of MA 30 & 62.