Crudeoil above 6900 may see near 7000
Above 7000 it may see 7200
Overall trend is upside on 1 hour time frame
This chart is only for educational purpose
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Although the rebound of silver within the day was close to the previous rebound high, the bears did not give too many opportunities to rise. At present, the bearish trend is expected to form...
Hello and welcome to this analysis
UKOIL formed a Bullish Harmonic Gartley near $83.50 in weekly time frame and reversed from there. In the last few weeks after its 1st round of reversal from the Gartley PRZ it has formed a Cup pattern (rounding bottom) in daily time frame indicating a breakout above $98.50 for $106.
While CRUDE OIL at MCX has formed an Inverse...
Sellers 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.
MCX - Zinc offers 2 opportunity to ride the bullish trend. From the seasonality historical data, it has been always witnessed that by the end of November price starts accumulating demand the demands of the market.
As represented in the above chart, wait for the price to come near our area of interest and wait for other bullish conformations.
Buy 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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The trend lines show a sideways signal after a fast recovery.
Bullish signals may come above 5,100 again.
4,900 confirms the weak trend.
Please trade with the correct stop Loss and with your own analysis,
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
Crude has corrected into the consolidation the long term consolidation zone and is now holding above the spike lows.
Potential long trade opportunity here to test into 62.50s and higher.
Crude is showing good signs of playing a potential breakout here for good Risk reward targets of 61.3/62.80 and higher.
we are holding on the higher edge of the profiles here and have a failed wick below as an additional confirmation. we need a bit of a stop run here above 60.30s for the idea to play out.
Idea invalid for hold below 59.60
