
Crude Oil Mini Futures
Crude Oil Mini Futures forum

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🔻 Bias: Bearish
Here’s why:
1. Price Action:
• Strong red candles with lower highs and lower lows.
• Price is well below the Previous Day Low (PDL) of ₹5,808 – clear sign of bearish dominance.
• Rejections around the ₹5,740 level indicate selling pressure.
2. Trend & Structure:
• 200 EMA (grey line) is sloping downward and far above current price – confirms downtrend.
• Price forming a bearish flag or consolidation near the lows – potential for breakdown continuation.
3. RSI:
• RSI is at 38, in the bearish zone, close to oversold, but not yet in a reversal area.
• No bullish divergence is seen yet.
4. Support Levels:
• Next key support is ₹5,685 (Oversold-Buy Zone) and ₹5,661–5,610 (Extreme OS zone).
• If ₹5,714 is broken, price may slide toward ₹5,685 or even ₹5,610.
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✅ Bearish Confirmation for Tomorrow:
• Unless price reclaims above ₹5,760–5,780 with strength, the trend remains bearish.
• Look for breakdown below ₹5,714 for continuation.
• Avoid long positions unless reversal signals (like bullish engulfing + RSI divergence) appear.
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📉 Bearish View: Key Observations
1. Price Action
• Price is struggling to break above the Bullish Zone (5884).
• It is currently trading below 5864, which is the neutral zone threshold.
• Multiple rejections from the upper resistance near 5884–5890, indicating sellers are active.
2. CPR and Key Levels
• Price is inside a tight range after failing to sustain above CPR.
• Looks like a lower high is being formed.
3. RSI & Zone
• RSI is around 50, which is neutral.
• Bearish confirmation strengthens if price sustains below 5864 and especially below 5845 (Bearish Zone).
4. Next Target Zones (Support Levels)
• 5845: Minor bearish trigger.
• 5812: Oversold-buy zone (expect some bounce here).
• 5764: Extreme OS-buy zone (final support).
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✅ Bearish Confirmation
If price breaks and closes below:
• 5845, you can add to bearish positions.
• Watch for rejection candles or bearish engulfing patterns near CPR top / resistance zones.
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