NYMEX Crude 5-June-2014

I expect upside move (103.60, 103.79) if 102.10 holds support. CMP 102.20.

Resistance: 104.50
Support: 102.10

After this upside move, I expect a big fall. My targets on the downside: 102.10, 101.56, 101.21, 100.93, 100.65.

Let us See how this is going to be unfold.

Crude Positional Up/Down Moves 4-June-2014

Today I've analysed Crude for possible Up and Down Moves for Positional Trades. This is LONG TERM View.

These are not calls, Views. From this view all calls will be generated. So, don't take this as a call.

Up Move:

For all Longs, stop loss is 5930/5900.
Targets: 6198, 6332, 6547, 6705.

Down Move:

For all Shorts, stop loss is 6200/6210.
Targets: 6060, 5930, 5816, 5590.

This is just my analysis based on my knowledge in Elliott Waves. Trading/learning from this is up to you. Your Money. You take the risk.

Crude NYMEX/MCX VIEW 4/6/2014

Based on 1H Chart:

NYMEX:

CMP: 102.85
I expect a pull back towards 102.64/102.53/102.43/102.35/102.10(100%). Any reversal from these levels, I expect upward move towards 102.98/103.51/103.93.

Trade Idea:
Sell SL103. Target min. 102.64.
Buy Between 102.53-102.43, SL 102, TGT 102.98/103.34.

MCX:

CMP: 6117
I expect a pull back. retracement levels 6104, 6095, 6087, 6080, 6059(100%). Any reversal from these levels will take crude to 6131, 6150-6175.

Trade Idea:
Sell with SL 6131 for 6106 and refer retracement levels.
Buy with SL 6055, TGT 6100, 6131, 6150-6175.


NOTE: FROM THESE UPPER LEVELS, EXPECTING A BIG FALL. Will update charts from the bigger picture later.

From new high, My 1st Targets are: 102.10, 6059.

USD INR View 4-June-2014

USDINR Up and Down Move:

Down Move:
If 61.19, 63.88 resists, we can see down move. Downside targets are: 57.73, 56.60, 56.08, 53.76.
Based on this view, currently wave b correction is in place, if 58.34 holds support, we will see 59.43, 59.76, 60.35 and max 61.19.
It should not go above to 61.19. If it crosses 61.19, then next resistance is 63.88.

If 61.19 resists, we can see the above mentioned targets, and the small targets will decided based on the wave completion and based on the market price action.

Up Move:
If 58.34 supports, then we will see upmove towards 59.43, 59.75, 60.61, 61.09. As per down move chart this is wave b. but as per up move chart. If and if only USDINR crosses, 61.19, 63.88, positional up move is possible.

Risky Crude Sell

Call 1: Sell Crude between 6130-6135, Strict SL 6145. If it crosses 6140, don't hold. TGTs 6115, 6106, 6077.CMP 6132.

Target Achieved 6115, 6106.

Call 2: Time 3:32PM IST Again  Sell at 6120-6125, SL 6140, TGT 6106, 6090-6085.
Before entry, reversed from 6117 and achieved 6106, 6090. 

Call 3: Time 4:47pm IST. Buy at 6090/6085 SL 6070, TGT 6133, 6160-6170, 6198+. Call Activated 6089.

Reason:

Crude went as per my Original Analysis "Crude View 2-June-2014"
http://freetradingcallss.blogspot.in/2014/06/crude-view-2-june-2014.html

Crude Down Move:
My first is 6077 and it has been achieved.

NYMEX CRUDE VIEW 2-June-2014

I expect NYMEX crude to move upwards today. The targets are 103.23/103.25/103.74. If these levels resists we can see a down move towards 103, 102.81, 102.70, 102.55.

In my view Crude is in wave 2 correction which comprises of abc correction. In abc, a completed at 102.42. Now b wave is in progress. After the wave b correction is over, we can see big down move minimum 102.42.

Support: 102.42/98.74
Resistance: 104.50/104.98, 105.21

Let us see how this is going to unfold.


Buy Update: 10:30 am. IST: Achieved 103.23 made high 103.34.

Sell Update: 5:34 pm. IST: Achieved 103, 102.81, 102.42. Achieved All Targets.  Made a low 103.34

Crude View 2-June-2014

UP AND DOWN MOVES OF CRUDE

Crude Up Move:

If 6055 supports, we can see up move, upside targets are: 6139, 6192, 6276, 6348.
Buy on dips, with strict SL 6040. Best entry 6100-6080. If 6077 broken, Buy will be invalid.

Crude Down Move:

If 6139 restricts, we can see down move, downside targets are: 6077, 6055-6040, 6031-6020, 5978.
Sell on rise, with Strict SL 6151. Best entry would be 6114-6110. If 6115 broken, Sell will be invalid.

Up and Down

Upside: SL 6040, Entry 6100-6080, Targets: 6139, 6192, 6276, 6348.
Downside: SL 6151, Entry 6114-6110, Targets: 6077, 6055-6040, 6031-6020, 5978.

Breakout Points1: downside: 6077, upside: 6115. min targets: 10-20pts.

Breakout Points2: downside: 6055, upside: 6139. min targets: 10-50pts.

There may be slight variations between charts. Check the charts for clear directions. Enter and Book whenever you are comfortable.

VIEWS may change when the market opens and based on the market movement.

Disclaimer:

These are my Views based on my analysis. I am not responsible for your investment or trading risks. I don't force anyone to trade based on my analysis. These are just my recommendations based on the observation from my analysis. YOUR MONEY, YOU TAKE YOUR DECISION.