Indian Oil Corp #IOC NSE stock is presenting new buy opportunities after reaching monthly demand level 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 imbalances, a very strong monthly pin candle has been 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 kind of lagging o non lagging indicators, no earnings, just pure supply imbalances.
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