Introduction: CL1! (Crude Oil Futures) has experienced a pronounced downturn lately, prompting traders to investigate the underlying factors driving this descent. In this analysis, we'll explore various elements contributing to CL1!'s downward trajectory. Technical Analysis: Breakdown of Key Support Levels: CL1! has breached significant support levels on the...
MCX:CRUDEOIL1! Weekly TF Crude oil had great ride from beginning of this year and paused from previous month. Fortunately this was necessary for having further movement. We can consider the previous month process was retracement thus by expecting further movement in upcoming weeks. Recent swing and bigger swings are at crucial level in Fibonacci retracement....
this pivot is considered as very strong demand zone due to war situation So I long 2 contract of CL set different TP this is very good area to make short term scalping trade
Wednesday we saw Crude make a nice substantial move downwards as the previous forecasts have shown. A large range day isnt normally followed by another day with a extremely large range and you can think of it like a runner running 800meters and couples minutes later having to run another race shortly after... energy needs to be recouped. I am staying bearish and...
Technical Momentum Weakens Crude Oil futures are declining in 2024 after correcting down to the 50-day moving average at $80.72. The technical perspective shows momentum studies declining into oversold territories, with the 9-day moving average trading below the 18-day. DMI- is above DMI +, indicating that the market is in a correction phase, while the Average...
*The content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions.
© Master of Elliott Wave Analysis: Hua (Shane) Cuong, CEWA-M The broader context indicates that wave (ii)-purple appears to have just ended, and wave (iii)-purple is being initiated to push lower. In the short term, wave (iii)-purple seems to be opening up to push lower. Wave i-blue is currently in progress, and surpassing the level of 82.14 would indicate the...
Daily Bearish Stay Bearish bias until 1hr -OB is closed above with a displacement candle @ 83.25 In this chart I am illustrating why IMO, this is a High resistance Liquidity run and not LRLR. The Price in the circle is Balanced, so for price to cut through this with ease is difficult all be it we have a signature LRLR bellow. So if a bearish setup appears don't...
Nobody knows the future so I just track parameters using Elliott Wave and also s/d zones. Let's see where support holds and I'll be watching for an impulse higher to signal the bottom is in. Otherwise, if we break 83 with feeling, then I'll watch 82 and 80.70 for support levels. If all of those break, then any meaningful rally is delayed for weeks or more. All imo...
These levels provide guidance for traders interested in trading Crude Oil MCX Futures in May, offering specific entry points, target prices, and stop-loss levels to manage risk. Range Point: 6,999 Intraday Range: 85 points Buy Above: 7,011 Average At: 7,001 Buy Target 1: 7,052 Buy Target 2: 7,084 Buyer Stoploss: 6,982 Sale Below: 6,990 Sale Target 1: 6,946 Sale...
Price has invalidated my original short idea, which is great. Currently holding HTF PD Arrays 2 scenarios we continue higher off the 1h huge imbalance which I am not comfortable getting into right now We dig into the BPR printed on Thursday, which is much more favorable
wti crude oil comment: Market is making marginally higher highs on the 1h tf but it’s a reasonable triangle we are in. I think it will chop some more inside before another breakout and I think that will be news related/event driven. current market cycle: trading range key levels: 80-86 but converges inside 82-84 bull case: Bull legs inside the range...
So we are on the Daily Not moving with much drive and lets say... obvious direction when it comes to day to day bias (Overall Bearish) I am ONLY focusing on PDH and PDL as targets today with any signal to buy or sell into the market being in a discount before I place a trade. Range day - yes To consider that Thursday's have seen good movement on Oil recently so...
Backtesting that Daily trend line with a few top dots on this 4hr chart. Good posture to dump some points here so they can reload lower. Big money always wins, and they almost always come back for that liquidity.
**CrudeOil:** The forecast is for the price to rise to the top of the channel.
So we have achieved one target for price and that was to reach the Daily V.i and so far London has rejected going higher... Would like to see price head down post 0930est My target is still 80.50 just waiting for price to align with my thoughts is what is most important before pressing the button. At minimum PDL would be a bearish target I don't see why we would...
BUY: 65.55 TP: 83.59 SL: 64.30 -If trade is higher 89.18, trade will be cancel & another entry area will update 26mar'24 19