Crude oil technicals @kaleemullah_d
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Buy crude oil @2255 SL@ 2245 trg@ 2290
Pivot point for mcx crude oil R3-2451, R2-2346,R1-2305, PP-2241,S1-2200,S2-2135,S3-2031.
As I mentioned that emotions are directed the market direction. Oil producers are fear if they cut output they will lose their market share.
Crude oil market also driven by emotions. Those are world oil producers have
Markets are directed by emotions. Emotions are most powerful fundamentals of any market. So follow those emotions.
Take a look on crude oil weekly outlook invst.ly/14jis
Russia giving hope for output cut. But Iran some other producers to accept the proposal.reut.rs/1oAenvW
One can go long on crude at $31.00 and expect $40,45, 50 in coming week or expiry of this contract. SL should be $26.investing.com/commodities/cr…
If output freeze work, then we will see crude at next resistance $40, 45, 50 in coming weeks.
In weekly chart crude oil formed double bottom and also a hammer is engulfed by next candle.
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