InvestyourAsset

Crudeoil Important Levels to watch !

MCX:CRUDEOIL1!   Crude Oil Futures
CrudeOil important levels to watch are as follows

📍 Support: 6020

📊Sell below: 6020 only on 15 minute candle closure below the level.
📉Target 1: 5970
📉Target 2: 5900


📍 Resistance: 6100

📊 Buy Above: 6100 only on 15 minute candle closure Above the level.
📈Target 1: 6145
📈Target 2: 6200
📈Target 3: 6250




⚡⚡ Remember each level will act as a support and resistance individually so there is a probability of reversal and a pullback on either side so its better to make an habit to book profits at each targets and re-enter again after a breakout from the same with a proper stoploss as per your own risk appetite.


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#Disclaimer: This is just a view and published here only for educational purpose, this should not be considered as a buy or sell signal. Trading in stock market may involve financial risk therefore, do your own research before taking any position.
Komentar:
The stability of crude oil prices is being influenced by the potential impact of Houthi militants' activities in the Red Sea on oil supply. The Houthi attacks and concerns about trade disruptions via the Suez Canal had initially caused oil prices to rise.
Komentar:

kindly use the stoploss as per your own risk appetite.
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target 1 hit,

time to start trailing the stoploss in order to secure the profits.
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high made 6204, Second target hit.

Facing hurdles at given supply zone marked in red box on the chart.
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all three targets done on upside after the breakout from resistance.

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Disclaimer: All the Views are purely for educational purpose.