CRUDE OIL: - CONSOLIDATE STRATEGY BUY ON DIPS R2-5150 R1-5080 S1-4940 S2-4850
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 Crudeoil is now trading in oversold level. The oscillator is showing BUY signal For short term Crudeoil is in HOLD SHORT position.Positionally Immediate support for Crudeoil is 4878.Resistance for the Crudeoil is 5044-5102-5323-5518-5698-5853-
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