Crude Oil is showing a potential bearish reversal setup as price develops a clear Rising Wedge pattern near the ₹10,000–₹10,200 resistance zone.
Key Technical Observations
Rising Wedge Pattern
Price has been moving upward within a narrowing structure, indicating weakening momentum despite higher prices. A breakdown from the lower trendline can confirm the bearish setup.
Critical Breakdown Zone
A sustained break below ₹9,220 could trigger aggressive selling pressure and confirm the downside move.
Downside Levels
Target 1: ₹9,020
Target 2: ₹8,500
CMT Perspective:
The setup reflects a potential loss of momentum near resistance, followed by a possible breakdown of the rising trendline. Confirmation through a decisive close below the breakdown level would strengthen the bearish thesis.
Trading View
Resistance: ₹10,000–₹10,200
Aggressive Selling: Below ₹9,220
T1: ₹9,020
T2: ₹8,500
Key Technical Observations
Rising Wedge Pattern
Price has been moving upward within a narrowing structure, indicating weakening momentum despite higher prices. A breakdown from the lower trendline can confirm the bearish setup.
Critical Breakdown Zone
A sustained break below ₹9,220 could trigger aggressive selling pressure and confirm the downside move.
Downside Levels
Target 1: ₹9,020
Target 2: ₹8,500
CMT Perspective:
The setup reflects a potential loss of momentum near resistance, followed by a possible breakdown of the rising trendline. Confirmation through a decisive close below the breakdown level would strengthen the bearish thesis.
Trading View
Resistance: ₹10,000–₹10,200
Aggressive Selling: Below ₹9,220
T1: ₹9,020
T2: ₹8,500
Pernyataan Penyangkalan
Informasi dan publikasi ini tidak dimaksudkan, dan bukan merupakan, saran atau rekomendasi keuangan, investasi, trading, atau jenis lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Ketentuan Penggunaan.
Pernyataan Penyangkalan
Informasi dan publikasi ini tidak dimaksudkan, dan bukan merupakan, saran atau rekomendasi keuangan, investasi, trading, atau jenis lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Ketentuan Penggunaan.