Crude Oil Technical Analysis | MCX | June 12th - 13th
Crude Oil Technical Analysis: Potential Bullish Breakout
Oil prices are rising on news of lower-than-expected US crude oil inventories and a bullish outlook for global oil demand.
Technical Analysis:
A potential bullish breakout is forming above 6570.
Trading Strategy
Entry: Long above $6570 with sustained move (>50-60 points) to confirm the breakout.
Targets:
T1: 6680 (1st profit target, +100 points from entry)
T2: 6767 (2nd profit target, +200 points from entry)
Stop-Loss: Below 6510 (placement below potential support level)
Risk Management:
Always remember to practice proper risk management. This strategy suggests a stop-loss placement 50-60 points below the entry point, limiting potential losses if the price reverses.
Disclaimer: This information is for educational purposes only and should not be considered financial advice. Please consult with a licensed financial professional before making any trading decisions.
Oil prices are rising on news of lower-than-expected US crude oil inventories and a bullish outlook for global oil demand.
Technical Analysis:
A potential bullish breakout is forming above 6570.
Trading Strategy
Entry: Long above $6570 with sustained move (>50-60 points) to confirm the breakout.
Targets:
T1: 6680 (1st profit target, +100 points from entry)
T2: 6767 (2nd profit target, +200 points from entry)
Stop-Loss: Below 6510 (placement below potential support level)
Risk Management:
Always remember to practice proper risk management. This strategy suggests a stop-loss placement 50-60 points below the entry point, limiting potential losses if the price reverses.
Disclaimer: This information is for educational purposes only and should not be considered financial advice. Please consult with a licensed financial professional before making any trading decisions.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.