The rally is almost ready, but all depends on how the geopolitical things run out.
Crude Oil (June) Yesterday’s close: Settled 78.48, up 0.37 WTI Crude Oil futures continue the trend lower, eyeing a seventh straight lower high on today’s session. Price action must clear yesterday’s 79.09 in order to break the trend. However, we do have a well-defined range from 79.00 down to 77.91 which traded in less than five minutes yesterday upon reports...
1. Symmetric triangle pattern has been observed 2. Good support and resistance formed I Am Not SEBI Registered Analyst. All Post and Levels Posting is only for educational and knowledge purpose. I Am not responsible for your any kind of loss or profit. No Claim, All Rights Reserved.‼️
**CrudeOil:** The forecast for Crude this week is for the price to fall to the zone between 76.68 and 75.84, where we have a lost pivot, and then rise again.
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...
CRUDE OIL, is expected to find a bottom really soon based on fib and if this is a 1-2 1-2 (elliot wave), we are about to be hit by a monster 3, driving prices to $100+ by mid-end july. I believe there is a strong chance we hold these levels drawn below. IT IS possible we come lower than those levels to get a deeper retest before going higher, as long as we dont...
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...
© Master of Elliott Wave Analysis: Hua (Shane) Cuong, CEWA-M The broader context suggests that the ((ii))-green wave has just concluded, and the ((iii))-green wave is currently unfolding to push lower. In the short term, the outlook indicates that the (i)-purple wave has recently completed in the form of an expanding diagonal, followed by the (ii)-purple wave...
according to the channel study, the price could reach the channel's mid(85.25)