CRUDE OIL: - CONSOLIDATE STRATEGY BUY ON DIPS R2-5820 R1-5750 S1-5620 S2-5550
Overall trend of the 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 Crudeoil is now trading in oversold level. The oscillator is showing BUY signal For short term Crudeoil is in SELL position.Positionally Immediate support for Crudeoil is 5629.Resistance for the Crudeoil is 5771-5849-5953-6118-6129-6137-
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