#repost
On the last two instances, when #Brent #CrudeOil crossed 90, NIFTY (in Blue - Left scale) underwent Correction both the times. This is the third such instance.
— Piyush Chaudhry (@piyushchaudhry) February 12, 2022
Below 90, NIFTY & Brent have had positive correlation, with 90 acting as an inflection point & causing the Divergence. pic.twitter.com/Q9dj8YFpuV
More from Piyush Chaudhry
This is how to differentiate:
• if right shoulder is smaller than left, most likely a continuation H&S
• if right is same or higher than left, and the price is not coming to neckline, most likely CF
sir a doubt does head & shoulders work in down trend ? pic.twitter.com/dytYmbzOfp
— Vega_Greek (@VegaGreek) May 13, 2021
More from Crudeoillongterm
Interesting Derivatives Data…
#MarketsWithETNOW | Is the #crude concern overblown? What do the charts indicate? What will be the trend going forward? Watch to find out as @kbbothra analyses #Brent #Crude #Oil #StockMarket pic.twitter.com/4SBSfpiKmd
— ET NOW (@ETNOWlive) June 1, 2022
Needs to break below this level for real impact. https://t.co/r5KoExzFKc
NYMEX Crude Oil update !
— Professor (@DillikiBiili) July 1, 2022
Its not ready to come below US$ 100 which is a big psychological level ! Everytime it comes near that zone, it takes a bounce. https://t.co/xQ3dZZXNiu pic.twitter.com/7WS38JU6JF