Crude oil Analysis - Fundamental, Technical, Psychological View

Tamil trader

Well-Known Member
We know answer well for the below question.

Why the crude goes up and Why the crude goes down?

We don't know answer for the below question.

Will the crude go up? and Will the crude go down?

How do we say the answer for the first question?

It is easy. We can see the movement in nymex crude, INR price and MCX Price. In rare times, We can see the fundamental news. In this way, We know the answer for this questions.

How we don't know the answer for the second question?

Because it is depending on fundamental and technical analysis.

If Fundamental news comes, Some newbies say whether it is bullish or bearish by just watching the numbers. and other experts say whether it is bearish or bullish by just analysing their old experiences.

What is happening with technicals?

For every technical analysis, there is four answers

1. It will go up

2. It will go down

3. It will go down after going some upside first

4. It will go up after going some downside first

Anyone cannot say the clear move. Because it is depending on their trading system, their discipline, their money management rules, etc

I mainly concentrate on INR, Nymex Crude, MCX movement only.

I will share littile by little whenever it is possible. But one thing is important. you should note the daily open, high, low, close of the nymex price, INR price and MCX Price. then only, you can follow this thread. my technical analysis is depending on that price.

If you post irrelevant questions, i will not reply to the question :rofl:and i will post my views continuously. because there is silent followers to me who is not posting anything in this thread but merely watching everyday.

Dear moderators,:thumb:

If i do the mistake and you find the evidence, you have the permission and you can ban me from traderji. But Some other jealous members have been posted Wrong information in some other threads about me. I don't know who they are and why they are doing this. But i dont have fear. because other good members are motivating me to continue my thread. I am always ready to give my best for the good members.

Dear Opposite parties,:D

If you don't like this thread, dont read this thread in future. dont post unwanted comments. because everyone is obeying the forum rules and moderators are watching everyone. So please make this thread productive. this will be useful for future readers.

Thanks again for the motivating people:clapping:

Tamil trader

Well-Known Member

Previous Close is 102.58 $

Today Open and High is Same 102.73 $.

So Now Current Resistance is observed at 102.80 to 103 $ levels

Keep in mind. Why i say 102.80 to 103 $ is the resistance level? Because there is one reason based on the round number psychology and Unability to break the high of 07.03.2014 (Friday)

I will explain in the further post about round number psychology

Tamil trader

Well-Known Member
Crude Oil Close - 6305 (07.03.2014)

Trading on 10.03.2014

Open 6307
High 6330
Low 6156
Close 6178

I will maintain these notes here which will be useful for finding the support and resistance in future

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