MCX CRUDE Forecast for 09-13 September 2024: Key Levels and Trading Strategy – Bramesh’s Technical Analysis
The Organization of the Petroleum Exporting Countries (OPEC) and its allies (OPEC+) appear to have lost their pricing power, becoming price takers rather than setters. A perfect storm is brewing in the oil market , with weak demand, surging inventory, rising NGLs and biofuel output and rising non OPEC production. Add to that, today’s post NFP dollar strength.
MCX Crude Oil Gann Angle Chart
Crude is seen a breakdown and price is heading towards 1×5 gann angle, price need to go above 5840 for reversal to come.
MCX Crude Oil Supply Demand Zone
MCX CRUDE OIL Supply Demand Chart : Demand in range of 5826-5850, Supply in range of 5658-5625
MCX Crude Oil Crude Harmonic
Price is heading towards 5444-5400 till holding below 5729.
Crude Astro/Gann Trend Change Date
09 September Important Gann/Astro Date for Trend Change
Weekly Trend Change Level:5709
Weekly Resistance :5786,5863,5941,6019
Weekly Support: 5631,5553,5475,5398
Levels Mentioned are for Sep Future Crude Contract
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