Rajandran R Founder of Marketcalls and Co-Founder Algomojo. Full-Time Derivative Trader. Expert in Designing Trading Systems (Amibroker, Ninjatrader, Metatrader, Python, Pinescript). Trading the markets since 2006. Mentoring Traders on Trading System Designing, Market Profile, Orderflow and Trade Automation.

Crude at critical Resistance once again

17 sec read


 

Crude strongly resisted near 200 day Weekly EMA. After Resisting near 74$ it shows strong move towards
$68 and showing negative divergence pattern in daily charts.
 
By Applying 13,34,55 EMA Principle we could find that crude is trade below all the three major EMA zone
 
13 EMA – 69.98
34 EMA – 69.54
55 EMA – 68.14
 
So $68-70 could be a possible resistance band. If any immediate reversal to take place then possibly
this zone will act as a immediate resistance zone
Rajandran R Founder of Marketcalls and Co-Founder Algomojo. Full-Time Derivative Trader. Expert in Designing Trading Systems (Amibroker, Ninjatrader, Metatrader, Python, Pinescript). Trading the markets since 2006. Mentoring Traders on Trading System Designing, Market Profile, Orderflow and Trade Automation.

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