Crude Oil Analysis – Current Trend and Key Levels 6PM

CMP: 75.77 (-0.12%)
Crude Oil is trading within a descending channel, showing a strong bearish trend on the hourly chart.

Key Levels:

Resistance Zones:

76.50 (previous breakdown zone).

78.00 (upper channel boundary and significant supply zone).


Support Zones:

75.00 (immediate support).

73.00 (major demand zone).



Trading Plan:

Bearish View:

Short below 75.50 with a target of 75.00 and 73.00.

Stop Loss: Above 76.50.


Bullish View:

Long above 76.50 for targets of 78.00.

Stop Loss: Below 75.50.



Crude Oil remains under pressure unless it breaks out above 78. Watch the trendline and volume closely for confirmation.

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