Mcdowell-N forming Head & Shoulder pattern Below 1000 should give breakdown looking tgt 980-975-970++ in very short term keeping on radar Mcdowell 1000 PE (oct) cmp 21
Crude oil is breaking down, and is doign that really fast as well. Unfortunately, this is not expected to abate inflation, negligibly if at all. Part of this slide down comes from a surging USD, and the other half is the anticipation of a recession due to the spiking interest rates. The Crude futures weekly chart is all bearish, candlesticks, indicators, etc. The...
Crude Oil futures appear to be facing some resistance about 100. It is clear that the 95 support level has been holding well, especially when the weekly 55EMA meets price at the bottom of the triangle. Daily chart tested 100 resistance to fail but technical indicators suggest that there should be more breakouts but not before some more consolidation. Wait for it.
As previously expected, Crude bounced off 95 (95.10 to be exact) and it bounced off with gusto, to reclaim 100 support. The bounce was a fast intraday check-in at 95, and the following day clocked a bullish engulfing of sorts. This was then followed by another bullish day to end the week with a long lower tail, indicative that between 95 to 100, likes a lot of...
Crude oil prices are in clear retracement this week, in the midst of broad market down trending. Previous week's assessment was that Crude stalled, and the week passed saw Crude reach near target, almost 124, before stalling and retracing. For interest, white arrows show entry and exit points that were taken. Just days after closing the trade, Crude turned down...
The Crude oil futures weekly chart started the week with a gap up, but ended the week with a doji candlestick, indicating a stall. Weekly indicators are divergent currently, with the RPM clearly pointing out the stalling, but the MACD crossed over to be bullish again. The daily chart shows of a mid-week extension to near the 125 target, missing slightly, and then...
Quick update, as highlighted for the past month or so… Crude just popped above 121. Trend is clear and present; momentum is strong. A close above 120 for the day would be bullish. The higher away from 120, the more bullish. Heads up!!
The monthly Crude Oil chart shows some seriously nasty ranges. From early 2000s, we have had monthly close check-ins from 20-140; and it does appear that the current dash for the upper end of the range is stronger in momentum (acceleration as seen by the slope and the size of the candlesticks). Taking history into account, it should slow down once crude is about...
Just a quick update that the first trading day of a shortened week, in the pre-market hours, is seeing crude oil prices spiking in excess of 119. As previously mentioned, was already in the works for weeks. Now very clear. Hello to more runaway inflation…
For the past month or so, been talking about higher Crude prices in the making. Here we are closer to that... The Weekly chart closed at a monthly high, and with such gusto that it is the most bullish looking candle in the past 6 weeks! This came after many indications and warnings from weekly candlestick patterns and daily technicals as outlined previously in...
I have not seen such bullish candlestick patterns for a very long time now... The weekly chart had an amazing weekly candle where it is a T type doji, with indications of massive upward momentum, pushing with upward pressure. This comes in tow with two or three previous long tail pattern, and the weekly close is highest in the past 6 weeks. Weekly MACD appear to...
As projected previously, Crude Oil prices are spiking and momentum continue to suggest that it is on track, and just might accelerate. Weekly chart closed with bullish momentum pattern and above average of the recent weeks. Long lower tails and close near the weekly tops suggest bullish momentum (also picking up?) The daily chart is now holding above a...
In an earlier (longer range) post, Crude to spike over USD150 this time... , Crude oil, energy were already earmarked for an upside spike in the coming weeks to months. Yesterday, due to a EU proposal to have a Russian oil ban including an embargo on crude in six months , it sent prices rocketing over 5% for yesterday. This rise was probably fueled further by...
Crude aooears to have broken out of trendline resistance, particularly on the daily chart. Closing today above 107.60 would launch the next rally. Fibonacci projections set target about USD165, about mid-June. The weekly chart candlestick is also forming what might be a bullish candlestick with a long shadow at the bottom, suggesting upward momentum. Daily...
USL could hit $18.50 to fill in the gap. Be careful on news regarding OPEC. Support might be tapped a few times and then price should go up from here. Move stop losses in profit and keep a tight stop loss.
Keep SL at 10 rs below the CMP and go long for target of atleast 640/670
United Spirit break out BUY 605-620 SL 595 TGT 640/670 for longer term looks good for >700/750
Disclaimer: Not a recommendation to buy or sell.