CL_F has seen a lot of volatility, does it cool off now? well we dont know. But here is the plan. Looking for a range bound rotation and pullback trades within the support and the resistance zones. Break outside the areas for potential target zones.marked in red and blue ( red - Short term references and Blue Long term references)
Expecting a hold of the 58.7-58.50 areas. for a test back to the target areas marked in dashed lines as a primary scenario. secondary scenario - Break below that expect to test the downside target areas. blue dashed lines- ( Long term references) Red Dashed lines ( Short term references)
we have these two references from larger timeframes in crude today. 1. 58.80- get there and hold below we move lower for test of 57.50, 56.25 2. 60.65 - hold above that we go on to test 63, 64.50 areas. too many players eager to fade the gap up.. so we go to be careful :)
Crude breaking out of a congestion zone , poised for a test of 67 zones
Crude Oil following nice pattern, it can be shorted on any up rally only for tomorrow with SL being above 72.85 for Targets of 70.5-70.8.. If it breaks 72.8, then next long target would be ~73.5$ which is also as per monthly breakout happened months ago at $50-55
MARKET ANALYSIS: The pair is now trading inside a descending channel. As of now the current scenario shows that the market tends to reach the channel resistance. So once we reach the resistance and the candle gives us a better confirmation for shorting, We can go for sell trade setup. So lets wait and see what the market does in the coming days. Cheers!
Low risk short idea at CMP with stops above 45. The counter seems to be finding resistance in the channel trendline.
Time for a contrarian play on the short side. Crude seems to be finding some resistance on the upper channel and has moved quite far from the averages. potential SL at 46.50 range. targets the lower channel trendlines max upto channel mean currently at 44.30
this setup provides a low risk opportunity. two confirmations 1. the channel low has been respected so far and now we see a breakout above a descending trend line. channel levels can be used for targets. 44.50, 45.20 range.
Looks like a support in the lower ascending trend line and a low risk pullback opportunity. alternatively if it fails its a good stop reverse setup too. look for a test of 46-46.5 range
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Crude(25.03.2015) broken downside & traded lower towards $43 mark as mention in our last analysis. However the recovery was quite sharp to resistance zone once again. Now crude is trading around $47.50 & as we can see on charts, its approaching to the broken tradeline of last symmetrical triangle pattern. This recovery seems to be a corrective one due to less...
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