Wednesday, 8 January 2014

CRUDE OIL TREND FOR TODAY- 08-Jan-2014

Crudeoil is bearish for medium-long term .Currently Crudeoil is in strong downtrend with good momentum but volume is unsatisfactory The open interest is not increasing with trend . In last few days volume based selling happened in the Crudeoil. The oscillator is showing SELL signal For short term Crudeoil is in SELL position.Positionally Immediate support for Crudeoil is 5808.Resistance for the Crudeoil is 6015-6086-6089-6109-6114-6341-
Short term and Intraday Level of CRUDEOIL
Currently 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 below5818 Buy if above 6170.0 The Crudeoil is now trading in highly oversold level. The oscillator is showing SELL signal
Intraday Trend- Buy is advised above 5894.1 with a stop at 5831.1 Below 5818 go for sell
Intraday Resistance of CRUDEOIL are 5882.3 : 5904.2 : 5955.3 : 5971.3 : 5987.4
Intraday Support of CRUDEOIL are 5829.7 : 5807.8 : 5757.6 : 5741.8 : 5726
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