RISING WEDGE PATTERN IN CRUDEOIL
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.
❤️ If this analysis helps, please like the post! 🚀
🔹 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.
❤️ If this analysis helps, please like the post! 🚀
تم فتح الصفقة
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.
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إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.