linkedin facebook twitter gplus

CRUDE OIL WTI (CMP: 43.45) WILL BREAK THE PREVIOUS LOW (26.05$) FOR A TARGET OF 13-19$ IN NEXT 73-78 WEEKS UPSIDE CAPPED AT 51$.





AS PER DAILY CHART PATTERN, AT THE CURRENT JUNCTURE THERE IS SMALL SUPPORT AROUND 41$.FROM WHERE WE CAN SEE A BOUNCE TILL THE DOWNWARD SLOPING LINE AND ALSO AROUND FIB RETRACEMENT LEVEL AROUND 50-51$.

BUT WHY THIS TREND WILL BROKEN LOWER??? WHY WE WILL HAVE A FURTHER PRICE EROSION, FOR THIS REFER AHEAD. 



AS WE MENTIONED IN OUR EARLIER REPORT DATED 27 JAN 2016 (BRENT OIL APPRECIATE: http://ntdtrading.in/research-desc.php?pageid=636, TOP ON GOOGLE SEARCH) THE PRICE OF INDEX ALMOST APPRECIATED 81% @58 LEVELS IN MARCH 2017 WHICH IS APPROXIMATELY IN 14 MONTHS. BOTH THE PRICEWISE AND TIMEWISE (ALMOST) RETRACEMENT HAD HAPPENED. WE HAD ALERTED CAUTIONS THROUGH VARIOUS SOCIAL MEDIA PLATFORM, ALSO COVERED A STORY THAT BRENT OIL WILL RETEST ITS PREVIOUS BOTTOMS. (http://ntdtrading.in/research-desc.php?pageid=770)

http://www.moneycontrol.com/news/business/markets-business/here-are-commodity-trading-ideas-from-nilesh-dedhia-2277523.html






AS PER WEEKLY CHART STRUCTURE THE CRUDE OIL HAS BEEN TRADING IN LOWER TOPS LOWER BOTTOMS FORMATION.THE CRUDE OIL HAD STIFF RESISTANCE NEAR 54/55$.THE LONG TERM CHART REVEALS NEGATIVE DIVERGENCE ON RSI WITH A BREAK ON IMMEDIATE BOTTOM WHICH CHANGE THE TREND FROM BUY TO SELL.

SINCE THEN WE HAVE BEEN ALERTING THAT BRENT OIL WILL RETEST ITS PREVIOUS LOWS.

FOR FURTHER STUDIES REFER AHEAD.



CRUDE OIL DAILY AND WEEKLY CHART:



CRUDE OIL MONTHLY AND USDRUB MONTHLY CHARTS:


AS PER LONG TERM CHART FORMATION THE CRUDE OIL HAD MADE A "ABC PATTERN" AND CURRENTLY TRADING WITH LOWER TOP LOWER BOTTOM FORMATION FOR TARGET LEVEL OF 0.38%@ 22.77$ AND 0.50%@13$ RESPECTIVELY FOR "C" TARGET.

AS PER MONTHLY CHART STRUCTURE WE ARE SEEING NEGATIVE REVERSAL IN CRUDE  OIL FROM THE LEVEL OF 55$ TO DOWNSIDE.AS CRUDE OIL TRADING IN LOWER TOP LOWER BOTTOM FORMATION.IN COMING PERIOD ANY BREAKDOWN BELOW 36.70$ WE WILL SEE CRUDE OIL ALL THE WAY UP TO 26.54$ AND 19-18$ RESPECTIVELY.




FIBONACCI RETRACEMENT:

0.0%          =  @ 54.32
0.236%      = @ 45.96
0.382%      = @ 40.80
0.50%        = @ 36.69
0.618%      = @ 32.48
0.786%      = @ 26.54
100%         = @ 18.97



TIME WISE RETRACEMENT :

57 WEEK =100%  
73 WEEKS =127%
78 WEEKS=137% 







USDRUB

THERE HAS BEEN HUGE CORRELATION IN SINCE LAST 20 YEARS BETWEEN CROSS CURRENCIES LIKES, USDRUB, USDCAD AND CRUDE OIL.SOMETIMES BOTH OR EVEN A SINGLE CROSS CURRENCY HAS LED RISE OR FALL OF CRUDE OIL.RECENTLY, THERE HAS BEEN A CORRECTION IN USDRUB AND CRUDE OIL, PRICEWISE AND TIMEWISE, BOTH WILL CORRECT AGAIN, SINCE WE WILL HAVE A LONG GREEN CANDLE WITH REVERSAL ON MONTHLY CHARTS.THIS POSITIVE CANDLE AFTER 17 MONTHS DOWNTREND.





AFTER HUGE SELL OFF FROM THE LEVEL OF 86 TO 50 USDRUB HAS GIVEN BULLISH REVERSAL AND CURRENTLY TRADING AT 59 LEVELS. THE LEVEL OF 67 IS RESISTANCE LEVEL OF USDRUB ANY BREAKOUT ABOVE THIS LEVEL WE CAN SEE USDRUB ALL THE WAY UP TO 70-80 LEVELS.








WE HAVE GIVEN A PRESENTATION ON A BROAD VIEW FOR CRUDE OIL, THAT DOES NOT MEAN IT WILL COLLAPSE IMMEDIATELY, WE WILL HAVE SEVERAL BOUNCES TILL 50/51$, HOWEVER THE PATTERN CONTINUES WITH "LOWER TOPS AND LOWER BOTTOMS".

THE NEXT  DECLINE IS BEING SUPPORTED BY RISE IN USDRUB, THE OVERALL STRUCTURE IS WEAK FOR OIL AND IN ADVERSITY THIS CAN RETEST PREVIOUS LOWS OF 25/27$ AND THERE ARE ALL CHANCES OF 13-19$ AHEAD, AS ON MONTHLY CHARTS THERE IS NO POSITIVE DIVERGENCE ON RSI , THE POSITIVE DIVERGENCE WILL ONLY HAPPEN ONCE WE HAVE NEW LOWS .

WHAT COULD BE THE UPSIDES??? WELL THIS COULD BE SOMEWHERE CLOSER TO 50/51$, PLEASE DO REMEMBER THAT SINCE WE HAD A LOWER TOP, THE BOUNCE WILL BE HALTED WITH ANOTHER LOWER TOP, AND IN A SPAN OF 73/78 WEEKS WE WILL ACHIEVE OUR OBJECTIVE, THIS IS VERY GOOD NEWS FOR INDIA, AND COMPANIES RELATED TO IMPORTS OF CRUDE OIL SUCH AS AVIATION, PAINTS, TYRES, AND MANY MORE INDUSTRIES RELATED TO IMPORTS OF OIL, EVENTUALLY LOWERING OUR IMPORT PRICES AND THUS ADDING POWER TO OUR FISCAL STRENGTHS. THE WHOLE STUDY IS IN RELATION WITH THE PRICE PATTERNS, DOW THEORY, SUPPORTED BY FIBONACCI AND CROSS CURRENCY STRUCTURE ESPECIALLY OF USDRUB .SINCE BRENT OIL AT 56 WE HAVE BEEN TARGETING THE TOP OUT FORMATIONS AND HAVE ACHIEVED BY COLLAPSE TILL 45, WE HAVE BEEN SUCCESSFUL TWICE WITH BRENT OIL CRASH (http://ntdtrading.in/research-desc.php?pageid=245) AND BRENT OIL APPRECIATE WITH APPROPRIATE TIMINGS(http://ntdtrading.in/research-desc.php?pageid=636) , BOTH THE STUDIES ARE ON TOP ON GOOGLE SEARCHES.

WE ARE OVERWHELMED WITH THIS SUCCESS, EVENTUALLY IT HAS HELPED INDIA .BEST WISHES FROM NILESH TALAKBHAI DEDHIA WITH INPUTS OF AVINASH KARLE AND TEAM ntdtrading.in.

{26 JUNE 2017}


























Disclaimer:All information given here is largely based on technical analysis which is highly dynamic in nature and relevant only at a particular point of time. Users are advised to pursue these recommendations only at their own risk and first consult their personal investment advisor when making investment decisions. We are not liable and we take no responsibility for any loss that you incure by trading/investing on our recommendations. these study are posted for educational purpose only.

Website Maintenance By : Aarav Infotech
All Rights Reserved By ntdtrading © 2016.