CRUDE OIL TREND FOR TODAY- 20-Dec-2013

Crudeoil is bearish for medium-long term .Currently Crudeoil is in strong uptrend but volume is unsatisfactory The open interest is not increasing with trend . Cautious point is buying at higer levels seems decreasing. The oscillator is showing BUY signal For short term The current position is BUY .Positionally Support for the Crudeoil is 6173-6022-5992-5980-5941-.Resistance for the Crudeoil is 6409-

Short term and Intraday Level of CRUDEOIL

Currently Crudeoil is in HOLD LONG position Crudeoil has crossed the high but the trend was not strong and sellers was at high so for short term better buy above 6325.8 with stop at 5971.0 The Crudeoil is now trading in highly oversold level. The oscillator is showing BUY signal 
Intraday Trend- Buy is advised only above 6325.8 with a stop at 6189.5 Below 6152.5 go for sell and put stop at 6288.6
Intraday Resistance of CRUDEOIL are 6308.6 : 6366.4 : 6358 : 6374.6
Intraday Support of CRUDEOIL are 6169.4 : 6111.6 : 6121.1 : 6104.8

 

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