Menu
  • Crash Course on Orderflow
  • Training
  • Premium
  • Traders Cafe
  • Intraday signals
  • MCX Signals
  • Library

Marketcalls

Simply Intelligent Technical Analysis and Trading Strategies

  • Software
    • Amibroker
    • NinjaTrader 7
    • Ninjatrader 8
    • Option Action
    • Market Analyst
    • Metatrader
    • Python
    • Datafeed
  • Market Profile
    • Orderflow
  • Markets
  • Commodities
  • Forex
  • Economy
    • Banking
  • Webinars
  • Trading Lessons
    • Algo Trading
    • Infographic
    • Video
You are here: Home / Commodities / Crude Oil Awaiting Bounce?

Crude Oil Awaiting Bounce?

August 28, 2014 by Mantraa Commodity Leave a Comment

Crude Oil (28.8.2014) traded lower in last few session & reach to major support area.

Now crude is trading around $94.30 & as we can see on chart, as crude bounced back from $92.50 mark & this area providing support since may 2013. We have witness consecutive 3 bounce from here & there could be 4th one now. Apart from this, crude is getting support from 161.8% February correction .In last few days we also observe a bullish construction on candlestick pattern. A Lower trendline support & positive divergence proving more strength probably.

On fundamental side, production sites are due for yearly maintenance from mid of September which could dent the inventory levels.

OILDaily

 
Based on above studies, Crude Oil has major possibility to move upside for targets around $96.60 & then $98.50 while a day close below $91.30 will force us to reanalyze the charts.

S2          S1           cmp         R1        R2
Mcx level – 5520 – 5640 – (5750) – 5890 – 5960

Note – Above technical analysis is not a buy/sell recommendation. For recommendations Contact Us

Related Readings and Observations

  • Crude OIL – Short Term Trend Reversal in Progress?Crude OIL – Short Term Trend Reversal in Progress? Crude Oil is trading in a very tight range. Very short term trading sentiment turns positive and trend line resistance comes around 49.2 reference where more crowded stops are visible in […]
  • Crude Oil Prices: “Random”? Hardly.Crude Oil Prices: “Random”? Hardly. Last week’s shocking spike in crude oil prices is +12% and counting, the biggest one-week gain in five years. Media stories blame one culprit: the November 30 OPEC agreement to cut production.
  • Analysis : Nymex Crude Oil Waiting for a Breakout Move?Analysis : Nymex Crude Oil Waiting for a Breakout Move? Crude is trading around $50.80 & as we can see on charts it is trapped in a range & producing a symmetrical triangle pattern. Generally these patterns appear before a big move […]
  • Commodity Investors should watch out! – Secular Bear marketCommodity Investors should watch out! – Secular Bear market Out with the old: Super Commodities such as Gold, Silver,Oil etc are in a so-called secular bear market that may stretch for years.Remember the commodities supercycle, that seemingly […]
  • Crude Technical Analysis – Corrective Bounce Ahead?Crude Technical Analysis – Corrective Bounce Ahead? Now crude is trading around $92.40 & the bounce $90 mark is well  supported by many factors like 261.8% February retracement. , a lower trendline of descending channel as well as a […]
  • Time for Crude Oil to Rise?Time for Crude Oil to Rise? Now crude Oil is trading around $98.30 & as we can see on charts, crude trying to bounce back from a ascending tradeline. This tradeline was able to hold crude downside move since june […]

Filed Under: Commodities Tagged With: Commodities, Crude Oil

About Mantraa Commodity

Mantra commodity is an analyst group involved in technical analysis of all major commodities gold, silver, crude, copper, natural gas etc.

Mantra commodity serving to clients from last 7 years & made a strong bond of trust with our dedication towards work.Our main functioning area is .Technical analysis on all major commodities available HERE. Or you can write us on mantracommodity@yahoo.com

HaPpY TrAdInG.

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Email Newsletter

Sign up to receive email updates on latest trading strategies , analysis & financial market updates

We Respect Your Privacy

Premium Access

Username:
Password:
Remember Me
Lost your password?

Tools For Traders

  • Marketcalls Android App
  • MCX Signals
  • Intraday Signals
  • International Commodities
  • OI Tracker
  • Participation OI
  • Your Broker
  • Market Sentiment Analysis

Amibroker Updates

[Recorded Webinar] How to Send Bracket Order, Cover Order and Multiple Orders using Amibroker and AlgoAction Platform

December 25, 2018 By Rajandran 1 Comment

AlgoAction Now Supports Bracket Order and Multi Orders

December 23, 2018 By Rajandran Leave a Comment

Code Snippet : ORB – Open Range Breakout Levels – Amibroker AFL Code (Better Version)

December 4, 2018 By Rajandran 1 Comment

Button Trading in Amibroker using AlgoAction Platform

December 2, 2018 By Rajandran Leave a Comment

[Recorded Webinar] Chart Based Vs Scan/Exploration Based Automated Trading – Amibroker

December 2, 2018 By Rajandran 1 Comment

  • Facebook
  • Google+
  • LinkedIn
  • RSS
  • Twitter
  • YouTube

Metatrader Updates

MetaTrader 5 Demo Servers Now Available for BSE Currency Markets

March 20, 2018 By Rajandran 8 Comments

ChartIQ – WebTrader for MT4

December 4, 2017 By Rajandran 4 Comments

Metatrader 4 – Web Platform Overview

October 29, 2015 By Rajandran 9 Comments

William VIX FIX Indicator for Metatrader 4

May 16, 2015 By Rajandran 9 Comments

How to Install Custom MQL4 indicators in Metatrader

November 14, 2014 By Rajandran 6 Comments


About | Contact Us | Terms and Conditions | Privacy Policy | Support Policy | Privacy Policy | Refund Policy | Disclaimer


© Copyright 2018 Marketcalls Financial Services Pvt Ltd · All Rights Reserved · And Our Sitemap · All Logos & Trademark Belongs To Their Respective Owners·

Data and information is provided for informational purposes only, and is not intended for trading purposes. Neither marketcalls.in website nor any of its promoters shall be liable for any errors or delays in the content, or for any actions taken in reliance thereon.