Crude oil is trading slightly better this week, but bullish traders seem to be taking a cautious approach to the upside. Traders seem to be taking their cues from the equity markets which are also trading tentatively.
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Crude oil is trading slightly better this week, but bullish traders seem to be taking a cautious approach to the upside. Traders seem to be taking their cues from the equity markets which are also trading tentatively.
Prices produced a bearish Hanging Man candlestick pattern below resistance at $88.14, the 50% Fibonacci retracement level, hinting the upswing from the 8/9 low may be nearing exhaustion.
Alternatively, renewed upside momentum above immediate resistance exposes $91.07. As with the S&P 500, gains are seen as corrective in the scope of a larger decline.
candlestick pattern below resistance at $88.14, the 50% Fibonacci retracement level, hinting the upswing from the 8/9 low may be nearing exhaustion. Near-term support lines up at $85.20, the 38.2%
Prices put in a Long-Legged Doji candlestick above support at $84.72 – the 38.2% Fibonacci retracement of the rally from the March 2009 low – hinting a corrective bounce is ahead.
I've seen that its price has been fallen below 77.00 USD recently. But this has been elevated close to 89.00 USD and again falling from that point. What should we expect next? Will it go lower again? Or go to upper position? Share your experience and analysis here for our learning.
Crude prices continue to track broad-based risk appetite trends, with a pullback seemingly in the cards as S&P 500 stock index futures trade aggressively lower ahead of the opening bell on Wall Stree
oil 80$ jaa chuka hai aur agar ye 78 todta hai to 75$ tak jaa sakta hai aur agar ye 83 todta hai to 88 tak jaa sakta hai
mera 86 par buy hai without stop loss aur main 76 tak hold kar sakta hu, please mujhe bola kya main abhi loss me close kar du ya phir wait karuQuote:
Originally Posted by rakesh
Initial support at 80.00 (Intraday Support) followed by 77.00 (Intraday Support). Initial resistance is now at 82.50 (Intraday resistance) followed by 85.00 (Intraday Resistance).