Indian Oil Corp #IOC NSE stock is presenting new buy opportunities after reaching a monthly demand level of around 108, following suit what Brent Oil and Light Crude Oil are doing, all three reacting to monthly demand levels.
There is a clear long bias with a very strong reaction from that monthly demand imbalance, a very strong monthly pin candle was created four months ago. That reaction has created a new weekly demand level around 134. No shorts are allowed in this oil-related Indian NSE Stock; Indian Oil Corp IOC has a clear long bias now.
Very strong weekly supply level created, no reasons to go short. Tested weekly supply imbalance under attack around 154.
We don’t need any lagging o non-lagging indicators, no earnings, just pure supply imbalances.
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