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.
Related Readings and Observations
MCX Crude – Recovery above 3210 Indicates Strength Both Short term (Daily Sentiment) and Very Short term sentiment (Hourly) in MCX Crude holds down. Sideways action is expected with a possible test towards 3170. However any sustainable […]
MCX Crude – Top Down Approach and Outlook for FEB 2017 On the Monthly Charts MCX CrudeOil Maintains uptrend and also broken out of the consolidation zone 3475 zone and sustained above the reference zone. However lower timeframes indicates a […]
The Volatile Crude and the Rude Global Markets On monday international crude breaks more than 5% and settled around $50 level which is the lowest settlement since April 2009. Crude tumbled heavily after data showed Russian oil output […]
IS Crude Ready to Fall More? Now crude is trading around $81.30 & we can see on charts crude unable to trade able broken support area of $84.20 while a formed a very bearish candlestick pattern just below the […]
10EMA Reverse Strategy in MCX Crude Hourly Charts Here is a very simple yet a powerful hourly strategy in MCX crude. I would like to call it as 10EMA Reverse strategy. i.e buy signal will generate in case of hourly candle closes below […]
Crude technical outlook (09.04.2013) Crude still in tight range. Now MCX Crude is trading around 5108 ($93.66) & as we can see on chart in last fortnight crude traded on both side & made a top of $97.43 & made a low of $91.93. However it was difficult […]
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