CRUDEOIL1! Based on 15-minute chart of Crude Oil Futures, here’s the technical outlook for tomorrow
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🔻 Bias: Bearish
Here’s why: 1. Price Action: • Strong red candles with lower highs and lower lows. • Price is well below the Previous Day Low (PDL) of ₹5,808 – clear sign of bearish dominance. • Rejections around the ₹5,740 level indicate selling pressure. 2. Trend & Structure: • 200 EMA (grey line) is sloping downward and far above current price – confirms downtrend. • Price forming a bearish flag or consolidation near the lows – potential for breakdown continuation. 3. RSI: • RSI is at 38, in the bearish zone, close to oversold, but not yet in a reversal area. • No bullish divergence is seen yet. 4. Support Levels: • Next key support is ₹5,685 (Oversold-Buy Zone) and ₹5,661–5,610 (Extreme OS zone). • If ₹5,714 is broken, price may slide toward ₹5,685 or even ₹5,610.
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✅ Bearish Confirmation for Tomorrow: • Unless price reclaims above ₹5,760–5,780 with strength, the trend remains bearish. • Look for breakdown below ₹5,714 for continuation. • Avoid long positions unless reversal signals (like bullish engulfing + RSI divergence) appear.
📉 Bearish View: Key Observations 1. Price Action • Price is struggling to break above the Bullish Zone (5884). • It is currently trading below 5864, which is the neutral zone threshold. • Multiple rejections from the upper resistance near 5884–5890, indicating sellers are active. 2. CPR and Key Levels • Price is inside a tight range after failing to sustain above CPR. • Looks like a lower high is being formed. 3. RSI & Zone • RSI is around 50, which is neutral. • Bearish confirmation strengthens if price sustains below 5864 and especially below 5845 (Bearish Zone). 4. Next Target Zones (Support Levels) • 5845: Minor bearish trigger. • 5812: Oversold-buy zone (expect some bounce here). • 5764: Extreme OS-buy zone (final support).
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✅ Bearish Confirmation
If price breaks and closes below: • 5845, you can add to bearish positions. • Watch for rejection candles or bearish engulfing patterns near CPR top / resistance zones.
CRUDEOIL1! last attempt for expiry, if we see more 50 points from current level 67.50 then we can see expiry around 70. if see any rejection later in day be cautions, trend will be negative, and massive selling will come till expiry as OPEC increased production and still, we are on top. pump is in full swing. Be cautions.
CRUDEOIL1! Based on 15-minute chart of Crude Oil Futures, here’s the technical outlook for tomorrow
