Rajandran R Follow Creator of OpenAlgo Sketchmaker, RagZ. Building GenAI Applications. Telecom Engineer turned Full-time Derivative Trader. Mostly Trading Nifty, Banknifty, High Liquid Stock Derivatives. Trading the Markets Since 2006 onwards. Using Market Profile and Orderflow for more than a decade. Designed and published 100+ open source trading systems on various trading tools. Now the recent curiosity on building Trading AI Agents.

Is MCX Crudeoil Likely to Breakdown – Mar 2017 Outlook

March 2, 2017 20 sec read

CrudeOil Daily Charts

In the last outlook we seen MCX Crudeoil – balancing behavior on the weekly and daily timeframe. Since then we had spent more time withing the balance. And now the is a significant change from the sentimental point of view as both daily and weekly sentiment turning down which brings us bias towards the breakdown from the bottom of the balance – 3500 zone.

Weekly charts are consolidating in a ultra tight balance 3500-3700 zone for the last 12 weeks. Breaking this range could bring more momentum on the downside. Medium term supports around 3384 and 3097

Crude Oil Weekly charts