crude oil technical

17 Tem 2023

Crude oil traded with range-bound sentiments, as it ended with a 0.75% loss, where the up move is possible while taking technical support of 6100, and if the 6500 levels are retested the sentiments may change, as per the 1D chart, it is in a "Right Angled Ascending Broadening Wedge", which indicates a sideways movement, and resistance is placed at 6316 and support at 6196, indicating that if support is broken, we can see further downside, up to the range of 6000 levels.

Research Report target

Buy Call -- Buy above 6236 for 6320-6350 Keeping SL 6204.

Sell Call -- Sell Below 6188 for 6159-6134 keeping SL 6209.