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Wednesday, February 10, 2016

NYMEX CrudeOil Technical Analysis

Bursting Setup – NYMEX & MCX CrudeOil

After yesterday's breakout in NYMEX CrudeOil 120 Minutes, this is yet another live breakout example of MCX CrudeOil followed by the breakout in NYMEX CrudeOil. The breakout came into effect after the formation of The Bursting Setup, a breakout technique developed by The Financial Doctors.

This is the live example for MCX CrudeOil-

MCX CrudeOil - 15 Minutes

It broke the Lower Price Wall of 1924. Prices consolidated. Price Pattern was acceptable. Volume Pattern was acceptable. It has already given '30 points. Interestingly it is hovering over a Lower Price Wall of “$27.72” in NYMEX CrudeOil.

This is the live example for NYMEX CrudeOil-

NYMEX CrudeOil- 120 Minutes

The Lower Price Wall is at 27.72 followed by some Major Support on the downside. Prices are consolidating. Price Pattern is acceptable. Volume Pattern is acceptable. Lets see what happens.

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