MCX Crude Oil on the hourly charts had moved to buy mode after a lenghty sideways movement since 13th Jan 2012. MCX Crude on the hourly chart had taken support near Rs5070-5080 zone and also trading above the ichimoku cloud indicating possible low risk Buy trade on MCX Crude. Supports are near Rs5100/Barrel. One can initiate longs with tight Stop loss below Rs 5100.
Rajandran R Follow Telecom Engineer turned Full-time Derivative Trader. Mostly Trading Nifty, Banknifty, USDINR and 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. Strongly believe that market understanding and robust trading frameworks are the key to the trading success. Writing about Markets, Trading System Design, Market Sentiment, Trading Softwares & Trading Nuances since 2007 onwards. Author of Marketcalls.in and Co-Creator of Algomojo (Algorithmic Trading Platform for DIY Traders)
Will MCX Crude bouce back from the lows?
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