Crude Eyes Bullish Reversal - Descending Trendline

17 ก.พ.

🚨 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.

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Crude Oil Update: 2nd Target Hit! 6300