Updates on Crude Oil

#1
Here i will update what i have learned in last few months.

As per my learning...........Crude is in bearish trend. Prices may take support at nearly 5980 levels, any break below the said level then again a correction is expected and may bring down the prices to 5900 and 5870 immediately. Only a breakout above 6110 levels will turn the Crude bullish till then sideways to down side only.

This is my conclusion from what i have learned....let see how much correct i am.

MY POSITIONAL CALL for WEEK ( from Monday to Friday)
Sell crude oil only below 5980 though it may rise up to 6020 also after sell execution . Put stop Loss above 6065 for targets 5900 and 5880.

Friends give your views...as this is my new thread.....Especially i need guidance from tamil trader and vijay sir
 
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Tamil trader

Well-Known Member
#2
Hello Sushil,

Correct Observation.............

Above 6110 is the bull trend starting point...........For me, above 6074 is also a bull trend change point.........

As there is FED meeting on December 17 and 18.......... Both fundamental and technical may fail.........market may be more volatile as the currency becomes volatile on the meeting time
 

KWR

Active Member
#3
GREAT JOB BROTHERS KEEP IT UP:thumb:
 
#4
Here i will update what i have learned in last few months.

As per my learning...........Crude is in bearish trend. Prices may take support at nearly 5980 levels, any break below the said level then again a correction is expected and may bring down the prices to 5900 and 5870 immediately. Only a breakout above 6110 levels will turn the Crude bullish till then sideways to down side only.

This is my conclusion from what i have learned....let see how much correct i am.

MY POSITIONAL CALL for WEEK ( from Monday to Friday)
Sell crude oil only below 5980 though it may rise up to 6020 also after sell execution . Put stop Loss above 6065 for targets 5900 and 5880.

Friends give your views...as this is my new thread.....Especially i need guidance from tamil trader and vijay sir
Dear Sushil - Thankyou for sharing your views. Will follow your post closely.
 
#5
Hello Sushil,

Correct Observation.............

Above 6110 is the bull trend starting point...........For me, above 6074 is also a bull trend change point.........

As there is FED meeting on December 17 and 18.......... Both fundamental and technical may fail.........market may be more volatile as the currency becomes volatile on the meeting time

Dear TT Sir,

Does this mean that safe traders should avoid trading during the Fed meeting on 17th and 18th, especially those who rely more on technicals.

I am currently short in crude at 6000. Please advice.
 
#7
In My view crude is forming base for a rally twds 103 lvls.. Irrespective of the fact wht FED does..we may see crude to 6400 lvls in coming days...a small s/l at 5935 is sufficient..
Dear Deepak,

Thanks for sharing your views.....will such a target be possible before the MCX December contract expires.
 

Tamil trader

Well-Known Member
#9
Dear TT Sir,

Does this mean that safe traders should avoid trading during the Fed meeting on 17th and 18th, especially those who rely more on technicals.

I am currently short in crude at 6000. Please advice.
Market movement cannot be predicted technically or fundamentally for next two days....

So exit the position at cost is advised ......
 
#10
Market movement cannot be predicted technically or fundamentally for next two days....

So exit the position at cost is advised ......

Thank you Sir.

I had closed my position at 5984 last night. I believe you too closed it at 5974. Sir can I request you to share your latest trading diary as per the new method.
 

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