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Crude oil has seen a massive reversal failing to stay below 70 we have seen it Rising back again and staying within this channel here as we discussed and shared in yesterday’s update now what to expect from crude oil today which position you should take in order to
Profit we will see with the help of charts and indic if you are new to the channel subscribe to the channel to get the latest updates this is the first update for the day the next update will be released before the US session V that as well and also your every like share
And comment is a great motivation and if you support the effort a channel member which comes with great pugs do press the join button besides the Subscribe icon of this Chann the crude oil data release today from us definitely will bring little volatility you can see the smile
Here you can find the details on my platform Forex fund.com here on this platform much more to offer but just visit the platform and look at the economic calendar you’ll find the data which can impact the prices of cude today let’s start first we look into rly
Charts watch till the end where I’m going to give you the trading levels and strategy now see one thing lower lows are done and with achieving the lower lows we have seen price is reversing here uh see this symmetrical movement lower highs now lower highs lower lows suggest
That is still prices are not willing to recover completely thus we have to wait for it to break Beyond 73.6 74 Zone which is going to be the key levels for oil for the day if it stays above 74 certainly we can say that now the prices
Are reversing and we can look forward to 75 76.5 Zone on the early charts if you look at there is a reversal sign here after a little rise and see the support levels have intact at around 70 thus on the downside 73 72.4 zone is going to be
The critical support Zone see on the hourly charts moving averages have crossed over certainly it’s a bullish sign and $72 levels is where we have got the maximum support for the day stock iic looking down magd is in green trying to converge a bit it has not yet crossed
Over RSI is flat near to top coming to two likewise on the 2our charts the important observation here is the see first this was the resistance now this has become the support does as long as 72.9 73 levels are respected we are not going to treat oil as B and on
The upside we know that 73.6 levels are going to play a major role in deciding the future of oil and then above 74 is where the Bulls will be taking over completely now if you look at this complete movement again the same observation symmetrical movement lower highs lower lows here is still trading
In the bearish channel the stock itic overbought here we have to Be watchful it can try to drop a bit look at the magn is trading with extreme Divergence candle size have started to diminish a possible conversion here can be seen but a crossover is what will confirm the
Bearishness look at the Double bottom levels after the double bottom it is now retracing and see this is the peak from where it is always seen a reversal so it is still got a scope for it to rise more RSI flat coming to three hour chart on
The three hour chart see these three candles beautifully aligned higher Highs are seen and we can find out it has got the resistance intact on the upside and that is why I say only buying entries above 73.6 levels above which and still I will say Beyond 73.6 as well 74 as
Long as 74 is not taken we can expect a possible reversal from the current levels does uh one can in fact buy at 73.4 as well but then we have to Be watchful of 73.6 73.8 74 every 20 cents there is a resistance does you have to keep shifting your positions here and
Only above 74 further bullishness will be confirmed the stock Astic is overbought here that is what also making me a little cautious with the positions magd is Divergent magd is still bullish it is looking upwards and it has also come after a double bottom levels here
RSI almost flat coming to 4our on the 4our charts in our analysis yesterday I mentioned that there’s a tail formation and the price are trying to reverse precisely it has given a very very strong reversal and in fact if you notice this it has breeed the channel
Here on the 4 our charts it was trading in this bearish channel it has come out of the channel it suggests that it can potentially continue the rise on the upside now if you divide this into two you will find that is still higher lows higher Highs are respected the highs of
This channel are above 77 levels here a stock I overbought magdi now look at magd Crossing over here trading with Divergence and it is still suggestive of bullish it is still Divergent looking upwards RSI is flat coming to the Daily before we look into the daily charts and
I give you the trading levels and strategy for the day if you want to learn this art of trading be a part of my mentorship batch 28 batch commences in third week of January register yourself now itself reach out to me for more details my Telegram and email IDs
Are mentioned in the channel and video description more details related to the timeing curriculum and payment structure you can visit my platform www. Forex fund.com this platform also has economic calendar as we have seen the charts with Advanced tools the community of Traders and also you can schedule a call with me
If you need any guidance also one must remember this consultations can be completely free if you’re part of my webinar series every Sunday we conduct a webinar where we discuss what to expect from the markets in the coming we and just if you want to trade as per the
Signals on my signals Channel you can be part of the VIP channel here reach out to me via Telegram reil for more details now look at the daily charts multiple bearish candle preceding candle the day before candle was also a SN candle and this candle was also a swing candle
Still I will I see that lower highs lower lows are treated thus you have to wait for a breakout any rise above 74 74.2 certainly is an indication that it has formed a bullish flag and it is going to give a breakout this breakout can lead to higher prices how far I will
Look forward for it to break Beyond 76 and then my target is going to be 78 in the near future thus today is going to be decisive yes if you see the price is staying above 74 74.2 stay bullish we are looking forward to 75 76 and then 78
Levels in the near that is the first update now see stock I is oversold here it can try to recover the magd I have shared this several times see magd has formed double bottom on The Daily charts prices have converged here it has not yet crossed over and it can continue to
Diverge on the upside the highs are far above now look at the formation if you divide this into two symmetrical formation symmetrical formation it can try to move towards this Zone RSI is also Rising here considering this I will recommend you to buy today at 73.4
Levels with a caution note that as long as 74 74.2 zone is not taken you have to be very very cautious and alert with the positions just keep a trailing stop loss of 20 cents on the upside Beyond 7 74.2 we can look forward to 74.8 75 as the
First Target which is going to be the first resistance then 76 and uh 76.5 if 76.5 is taken we can look forward to 78 as the next targets here if not today possibly next few sessions these levels will get achieved if it stays above 74 75 Zone on the downside a selling entry
Can be taken 72.6 levels below 72.6 we can look forward to 72 .4 the first targets and then below 72.4 is where little bearishness can be seen where 72 is the next Target and Below 72 is further bearishness will prevail where we look forward to 71.4 71 and then $70
Levels take your trades accordingly like share subscribe and comment join my mentorship mat join my signals Channel and yes the next update will be released for before the US session was that as well thank you very much have a great profitable trading day ahead do visit the platform forex.com or do visit my
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2 Comments
Thank you!
Thank u 🙂 about time oil went up