Crude Oil MCX Future Weekly Analysis for 22 to 26 Jan., 2024

21 Jan

CRUDE OIL - 20 JAN MCX FUTURE WEEKLY ANALYSIS FOR 22 TO 26 FEB., 2024

📊 Technical Levels:

📈 Buy at: 6086.77
🎯 Buy Target 1: 6326.77
🎯 Buy Target 2: 6462
🔍 Add one lot at: 6045
📉 Sell at: 6003.23
🎯 Sell Target 1: 5889.23
🎯 Sell Target 2: 5754
📊 Weekly Range: 354

📈 Analysis:
Crude Oil futures are presenting a compelling opportunity for traders. The initial buying position at 6086.77 opens the door to substantial gains, with targets at 6326.77 and 6462. In case of a retracement, adding one lot at 6045 can enhance profit potential. Conversely, a sell position at 6003.23 has targets at 5889.23 and 5754.

📊 Weekly Range Perspective:
Considering the weekly range of 354, there is significant room for both upward and downward movements, providing traders with ample opportunities to capitalize on market fluctuations.

📈 Trade with Caution:
As always, it's essential to manage risk effectively and stay informed about market dynamics. Use appropriate position sizing and adhere to your risk management strategy.

Note: This analysis is for educational purposes and not financial advice. Trade responsibly.

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