CRUDE OIL (XABCD Activated)

3 oct.

What I have seen:
First price made a top at 7322 on 12th April 2024
Then formed a low of 6073 on 4th June 2024
Then the price formed a lower high of 7052 on 5th July 2024
Then the price made a new low of 6025 on 5th Aug 2024
Then the price made a lower high of 6736 on 13th Aug 2024
Then the price formed a lower low of 6020 on 21st Aug 2024
Then the price made a lower high of 6516 on 26th Aug 2024
Then again, the price took a new lower low of 5501 on 10th Sep 2024
Then the price made a lower high of 6069 on 24th Sep 2024
Then made a low of 5577 on 1st Oct 2024
(Here you see that the price does not break the previous swing low. Hence, lower lows stop here.)
And then the price at CMP breaks the previous swing high of 6069 which is the first time.
(It denotes that price changes its structure from a lower high to higher high.)
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I also draw the path to understand the Price structure.

Conclusion:
View got invalid if a candle closes below 6000
Target-6300, 6400, 6500, 6600+
(Note: If crude oil prices go up, then Paint & Tyre stocks will bleed brutally.)
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I am not a SEBI Registered. This analysis is purely for educational purposes only.
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If you gain some learning from this chart, then please like this post for more reach & also do comment if you have any questions regarding this.

7 oct.

Note

Straight two target done.
6300, 6400

8 oct.

Note

Third target done yesterday before closing.
Made a high of 6495