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 trading near major resistance

18 sec read

Crude : $100.78/barell


 

We may see range bound behaviour between $100-110 as crude is highly oversold bounceback will be expected level and hard support seen at $100. Any break below $100 will lead to a target of $86

Updated View

Retracement in crude is about to get over.
Crude All time High = 147
All time Low = 48
Diff = 147-48 = 99
50% retracement = 147-49.5=$97.5
61.8% retracement = 147-61=$86

Retracement in crude is about to get over.Max downside may be btw $86-97.5. Currently crude is highly oversold. But sell signal technically.

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.

Silver Momentum Pullback Trade Setup

After a significant momentum in Silver 11.77 to 29.85 silver started correcting in the month of Sep 2020 towards 21.66. Last week silver plunged...
Rajandran R
22 sec read

Is the Oil nearing the Bottom?

I woke up in the morning just to see the headlines "Oil Drops to 21-Year Low With Storage Filling as Demand Shrivels". Ever-since ...
Rajandran R
53 sec read

Gold-Oil Ratio at the Historical High

Now with One ounce of Gold one can buy 83 barrels of Crude Oil. Gold-Oil Ratio is at the historical peak as the FED...
Rajandran R
37 sec read

Leave a Reply

Get Notifications, Alerts on Market Updates, Trading Tools, Automation & More