Sunday, January 23, 2011

Sure Shot Crude Oil Tips


Sure Shot Crude Oil Tips: We mentioned in our newsletter yesterday "Some correction is expected in this counter. Crude is facing pressure in international market to maintain above $92" . See Crude fall like anything and come down to 4125.

Overall trend is bullish.......but short term weakness... last week it was made a 4247 and unable to hold support 4200 and started down ward journey and test 4086 but finally closed at 4098 level. Overall trading range of 4000 to 4200.....

NYMEX : Short term some weakness . Higher level it will face resistance level $ 94 and crossover will may test $ 98 and $ 104 in near term. On the other hand it will take support US $ 88.45.  

Trend is up last trading session two way moment in this counter and continuous up trend but this time overbought counter so risk at t his time and 4145.00 level below bearish trend and low side touch at 4041.00 and 3985.00 level touch and 4145.0 level above just bullish counter and up side touch at 4205.00 level and cross above touch at 4305.00 level in coming trading days .

COMEX CRUDEOIL:-  Weekly trading range at  trend  up side resistance at 91.80$ maintain above this level touch at 94.50$ but maintain above 87.65$ level and maintain below this level bearish mode in commodity  market and low side support at 86.20$ and next support at 83.50$ .

We mentioned in our newsletter on thursday "Some correction is expected in this counter. Crude is facing pressure in international market to maintain above $92" .See Crude fall like anything and come down to 4099. Currently crude is trading between its 20 & 50 DEMA of 4160 & 4086. It may take strong support at 4050 and we expect that there will be a bounce back rally till 4180 from that level.

1 comment:

  1. This post is very informative from trading point of view and carries valuable updates. For more updates like these on social media platforms follow epic research.

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