Oil - Crude (WTI)Short
Crude Oil Analysis – Current Trend and Key Levels 6PM
CMP: 75.77 (-0.12%)
Crude Oil is trading within a descending channel, showing a strong bearish trend on the hourly chart.
Key Levels:
Resistance Zones:
76.50 (previous breakdown zone).
78.00 (upper channel boundary and significant supply zone).
Support Zones:
75.00 (immediate support).
73.00 (major demand zone).
Trading Plan:
Bearish View:
Short below 75.50 with a target of 75.00 and 73.00.
Stop Loss: Above 76.50.
Bullish View:
Long above 76.50 for targets of 78.00.
Stop Loss: Below 75.50.
Crude Oil remains under pressure unless it breaks out above 78. Watch the trendline and volume closely for confirmation.
#CrudeOil #CommodityTrading #MarketAnalysis
Crude Oil is trading within a descending channel, showing a strong bearish trend on the hourly chart.
Key Levels:
Resistance Zones:
76.50 (previous breakdown zone).
78.00 (upper channel boundary and significant supply zone).
Support Zones:
75.00 (immediate support).
73.00 (major demand zone).
Trading Plan:
Bearish View:
Short below 75.50 with a target of 75.00 and 73.00.
Stop Loss: Above 76.50.
Bullish View:
Long above 76.50 for targets of 78.00.
Stop Loss: Below 75.50.
Crude Oil remains under pressure unless it breaks out above 78. Watch the trendline and volume closely for confirmation.
#CrudeOil #CommodityTrading #MarketAnalysis
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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.