CrudeOil Important Levels to watch

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MCX:CRUDEOIL1!   Crude Oil Futures
CrudeOil important levels to watch are as follows

#Support: 5870

Sell below: 5870 only on 15 minute candle closure below the level.
Target 1: 5820
Target 2: 5740

#Resistance: 5955

Buy Above: 5955 only on 15 minute candle closure Above the level.
Target 1: 6010
Target 2: 6080-6085

=> # Remember each level will act as a support and resistance individually so there is a probability of reversal and a pullback on either side so its better to make an habit to book profits at each targets and re-enter again after a breakout from the same with a proper stoploss as per your own risk appetite.

=> # Please do your own research before initiating any trade. Always use stoploss in order to protect your capital.

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#Disclaimer: This is just a view and published here only for educational purpose, this should not be considered as a buy or sell signal. Trading in stock market may involve financial risk therefore, do your own research before taking any position.

as per hourly timeframe, crudeoil rejected exactly from the given supply zone.

broken down the trendline support.

a sharp downward movement can be expected below 5890-5870 which may act as a support.

watch it carefully, Crudeoil is at interesting level now, A make or break level !!

crudeoil managed to take the support !

Again price rejecting from exactly same supply zone.

i hope everyone is now able to understand the power of price action.

as soon as the demand zone is broken down decisively, price dropped like anything.

just the way as planned !!
both the targets achieved on downside after the breakdown from the support and demand zone.