Monday, 15 April 2013

CRUDE OIL TREND FOR TODAY-16-April-2013


Crudeoil is bearish for medium-long term .Currently Crudeoil is in strong downtrend but volume is unsatisfactory The open interest is not increasing with trend . Noting point is selling at lower levels seems decreasing. The oscillator is showing SELL signal For short term Crudeoil is inSELL position and closed below 1 month low with volume signals down breakout.Positionally Immediate support for Crudeoil is 4773.Resistance for the Crudeoil is 5075-5105-5118-5143-5149-5157-
Short term and Intraday Level of CRUDEOIL
Crudeoil and closed below 1 week low with volume signals down breakoutCurrently Crudeoil is in HOLD SHORT position Crudeoil has formed a new 5 day low yesterday but failed to keep the trend so if selling has to considered better below4733.4 Buy if above 5149.0 The Crudeoil is now trading is approaching oversold level. The oscillator is showing SELL signal
Intraday Trend- Buy is advised above 4955 with a stop at 4783.9 Below 4733.4 go for sell
Intraday Resistance of CRUDEOIL are 4889.3/4934.6/5009.8/5004.5/5039.9
Intraday Support of CRUDEOIL are 4798.7/4753.4/4678.2/4725.5/4691.2

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