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 .. The Crudeoil is now trading in oversold level. The Crudeoil is now trading in oversold level. The oscillator is showing SELL signal For short term Crudeoil is in SELL position.Positionally Immediate support for Crudeoil is 5913.Resistance for the Crudeoil is 6177-6238-6341-6505-6628-6697-
Short term and Intraday Level of CRUDEOIL
Currently Crudeoil is in SELL position The Crudeoil is in downtrend For short term buy only if close above 6053.0 Selling pressure seems to be deceasing So Short term sellers have to take a cautious approach.Short only below 5937.0 The Crudeoil is now trading is approaching oversold level. The oscillator is on BUY Signal and Crudeoil is recovering from oversold level
Intraday Trend- Buy is advised only above 6086.3 with a stop at 6018.3 Below 6003.8 go for sell and put stop at 6071.7
Intraday Resistance of CRUDEOIL are 6073.1 : 6096.4 : 6145.8 : 6162.2 : 6178.5
Intraday Support of CRUDEOIL are 6016.9 : 5993.6 : 5945 : 5928.9 : 5912.9
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