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 OIL – Short Term Trend Reversal in Progress?

22 sec read

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 that reference point. And few more stops are visible around 50.2 zone.

Crude OIL holding the current swing low is a critical support from the short term perspective. Supports are expected around $46-$47. Breakout move is anticipated towards 49.2 and 50.2 in the very short term.

Monthly timeframe is currently in a broader consolidation zone with trading sentiment holds positive. Long term view holds positive as well. Spike up move up 49.2 further confirms the presence of longer timeframe buyers.

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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