MCX Crude Crash : Some Stupid Advisors Says, Buy Buy All Buyers Trap
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Technical Power of CFA’s
(CHARTRED FINANCE ANALYST)
“No Magic, No Miracle, Just Power of Level”
Neal Bhai Reports (NBR) By CFA’s and MFA’s Technical Team
Mobile No. 9582247600 & 9899900589
The main trend is down according to the daily swing chart. The trend turned down on July 11 when sellers took out the swing bottom at $69.93. The new main top is $72.98. A trade through this price will change the main trend to up.
The main range is $62.99 to $72.98. Its retracement zone at $67.99 to $66.81 is the primary downside target. Sellers came close to hitting this target on July 12 when the low hit $68.09. Inside this zone is an uptrending Gann angle at $67.74, making it a valid downside target.
The short-term range is $72.98 to $68.09. Its retracement zone at $70.54 to $71.11 is the primary upside target. Since the main trend is down, sellers may come in on a test of this zone. On July 13, this zone stopped the rally at $70.60. Inside this zone is a downtrending Gann angle at $70.98, making it a valid target.
