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Bonus Trades, Crude Oil

Crude Oil Futures Analysis- 20Nov2019

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Crude Oil Futures have closed today at $57 per barrel. Today was a large swing day for Crude Oil Futures, they fell from 57 to 55 and recovered all the way back up to 57, showing very strong buying strength till the end of the day.

If the Crude Oil Futures start trading above $57.35, they can rapidly move up to $58, which is the next upside target. Given today’s strong pullback from $55 level, the technical target is now $59. However, if the Crude Oil Futures start trading below $57, they can rapidly go down to retest $56 level. There is a strong resistance at current level of $57. So traders should wait for upmove to take place first.

Today, the $55 level has re-established itself as a strong support. Therefore, our Crude Oil Futures trading strategy is to buy on corrections, while the futures are above $55 per barrel, for target $59 per barrel.

Because of the sharp fall from 58 to 55, we added long positions at 55.15 for target 56, which was a very reliable target for today itself, because a pullback till 56 was inevitable, and it happened within the morning. The upmove from 56 to 57 was part of a bigger upmove, which could not be seen in advance but our trading system kept us in the long positions till the end of the day, and we took profits at 56, 56.5 and 57.

Nifty50

Nifty Futures Analysis- 31Oct2019

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Nifty Futures have moved up rapidly in the last one week after crossing 11,600 level. This upmove has been made using gap ups with truncated weeks due to market holidays. So this entire price range between 11,600 and 11,900 needs to be retested for any reliable upmove above 12,000.

Nifty Futures Technical Analysis Nifty Futures are currently at the top end of the Bolliger Bands range, and far above their short term moving averages of 5 and 10 days. Nifty Futures have major resistance at 11,950 and 12,060. The momentum has been going down, while price has been going up. So there is a good chance of 100-200 point correction in the next 1 week, before further upmove towards 12,000 because there will be major resistance and selling pressure at the higher levels.

Nifty Futures Trading Strategy: Investors can create long positions on corrections, as long as Nifty futures are above the 200 day moving average of 11,380. Nifty has been making big sharp moves on upside and downside since July 2019, and any reliable Nifty futures trading needs 100-200 point stop loss. Trading with 10 day moving average as the stop loss is also a good approach in such conditions.