RISING WEDGE PATTERN IN CRUDEOIL

11 lut

Crude Oil (MCX) 1HR Chart Analysis

🔹 Expected Price Movement: Price is forming a rising wedge pattern, indicating a potential short-term upmove before a breakdown.

🔹 Bullish Push First: Expecting price to test the 6343 - 6380 zone before showing weakness. A temporary breakout could occur before reversal.

🔹 Bearish Breakdown Target: If the price fails to hold, a breakdown below 6306 could trigger a drop toward 6260, confirming the wedge breakdown.

🔹 EMA & Volume Analysis: The 55 EMA (6287) acts as dynamic support, but declining momentum and volume suggest a possible exhaustion near resistance.

🔹 Risk Management: Traders should monitor price action near resistance and use stop-loss protection to manage volatility.

📌 Disclaimer: This is a technical analysis based on provided data and should not be considered financial advice. Trading involves risk, and past performance does not guarantee future results.

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12 lut

Zlecenie aktywne

Based on the crude oil recent chart movement:

Breakout of Rising Wedge: The price has broken below the rising wedge pattern, indicating a potential bearish continuation.
Retest in Play: The price is currently retesting the broken trendline, which may act as new resistance.

EMA (55) at 6315: Price is hovering around this level, a breakdown below can accelerate selling pressure.

Next Support Levels: If rejection occurs, we could see a drop towards 6280 and then 6250.

Bullish Case: If price reclaims the wedge and sustains above 6340, a move towards 6380-6400 is possible.

📌 Next Move: Watch for confirmation at the retest zone; rejection favors further downside, while a reclaim of 6340 could signal strength.