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
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Отказ от ответственности
Информация и публикации не предназначены для предоставления и не являются финансовыми, инвестиционными, торговыми или другими видами советов или рекомендаций, предоставленных или одобренных TradingView. Подробнее читайте в Условиях использования.