CRUDEOIL MCX LEVELS

31 בינו׳ 2024

TIMEFRAME : 1 HOUR

Indicator Used: The analysis involves the use of the 100-day Exponential Moving Average (EMA), a common technical indicator in financial markets.

Sustainability Requirement: The focus is on whether the price of crude oil can maintain its position above the 100-day EMA.

Bearish Signal: If the price fails to sustain above the 100EMA, it is interpreted as a bearish signal.

Market Sentiment: Traders often use key moving averages to gauge market sentiment and potential trend reversals.

Possible Downward Trend: In this case, failure to sustain above the 100EMA suggests the potential for a bearish (downward) trend in crude oil prices.