Crude Eyes Bullish Reversal - Descending Trendline
🚨 Crude Oil (MCX) 4 HOUR Chart Analysis 🚨
🔹 Bullish Indicators Identified: Breakout from a descending trendline, signaling potential trend reversal.
Price reclaiming the 55 EMA (6211) as a key resistance level.
🔹 Expanding Demand Zone: The breakout structure suggests a shift in market sentiment, increasing the probability of bullish continuation.
🔹 Target Levels: Watching for price movement towards the 6310 zone (Bearish OB).
T1 - 6250
T2 - 6300
T3 - 6350
🔹 Breakout Confirmation: A strong move above 6180 - 6200 will validate the bullish breakout.
🔹 Risk Management: Ensure proper stop-loss placement to manage risk effectively.
📈 Stay alert for confirmation & volume surge! 🚀
🔹 Disclaimer: This is a technical analysis based on available data and should not be considered financial advice. Trading involves risk; past performance is not indicative of future results.
❤️ If this helps, please like the post!
🔹 Bullish Indicators Identified: Breakout from a descending trendline, signaling potential trend reversal.
Price reclaiming the 55 EMA (6211) as a key resistance level.
🔹 Expanding Demand Zone: The breakout structure suggests a shift in market sentiment, increasing the probability of bullish continuation.
🔹 Target Levels: Watching for price movement towards the 6310 zone (Bearish OB).
T1 - 6250
T2 - 6300
T3 - 6350
🔹 Breakout Confirmation: A strong move above 6180 - 6200 will validate the bullish breakout.
🔹 Risk Management: Ensure proper stop-loss placement to manage risk effectively.
📈 Stay alert for confirmation & volume surge! 🚀
🔹 Disclaimer: This is a technical analysis based on available data and should not be considered financial advice. Trading involves risk; past performance is not indicative of future results.
❤️ If this helps, please like the post!
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Crude Oil Update: 2nd Target Hit! 6300
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.