CRUDE OIL TREND FOR TODAY- 09-Jan-2014

Crudeoil is bearish for medium-long term .Currently Crudeoil is in strong downtrend and the trend is supported with good volume 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 5755.Resistance for the Crudeoil is 6011-6052-6077-6100-6330-

Short term and Intraday Level of CRUDEOIL

Currently Crudeoil is in HOLD SHORT position The Crudeoil is in downtrend For short term buy only if close above 5890.0 Selling pressure seems to be deceasing so Short term investor with risk aptitude can enter again if it close above 5918.0 but caution- close Below low5 fresh selling can occur The Crudeoil is now trading in highly oversold level. The oscillator is showing BUY signal 
Intraday Trend- Buy is advised above 5851.2 with a stop at 5749.2 Below 5723 go for sell
Intraday Resistance of CRUDEOIL are 5839.5 : 5883.1 : 5901.7 : 5917.7
Intraday Support of CRUDEOIL are 5734.5 : 5690.9 : 5673.5 : 5657.8

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