Crude technicals with charts

My Positional chart on Crude. - Down move and Up moves.

As per my POSITIONAL ANALYSIS of Crude chart, here below given my view of UPMOVE and DOWNMOVE. THIS IS POSITIONAL VIEW.

DOWNMOVE: If down trend continues, then the targets would be 5962, 5907-5896(minimum tgt), 5789, 5640 (max tgt).

UPMOVE: If 5973, 5962, 5933 holds support, up move is in track. But this can be confirmed if only it moves above 6134 - 6150.
Then, upside targets would be 6194-6202, 6227-6241, 6335-6339, 6414, 6549. Immediate upside target would be 6093-6105.

Positional Traders can wait for the breakout below 5933 or upside 6134.


If you would have noticed, on the down move crude touched exactly, 5962 and reversed. As long as 5930 holds supports, sellers need to be alert.
Yes Raj,
The Recent swing low as indicated in my chart was 5965... It tried to break but couldnt break and gave a reversal.. which shows that crude is still in range..
After failed breakout one could have gone long with the T1 5992 And T2 6069.

Now 6069 is upper range from 6065...
Yes sir, from here, my expectation is it should 1st hit the previous high and my positional 1st TGT 6093. 'Coz, NYMEX Crude is going as per analysis. Gave strategical call at 100.06 with sl 99.73 and TGTs 100.4, 101, 101.4, It is in track and reached my 1st TGT. Now it is retracing, after this retracement, I expect it to go to my 2nd TGT. In MCX, since, we need to consider INR moves, little difficulty at some times.
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