CRUDE OIL: - CONSOLIDATE STRATEGY BUY ON DIPS R2-5620 R1-5550 S1-5420 S2-5350
Overall trend of the 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 . Noting point is selling at lower levels seems decreasing. The oscillator is showing SELL signal For short term Crudeoil is in HOLD SHORT position.Positionally Immediate support for Crudeoil is 5450.Resistance for the Crudeoil is 5680-5686-5687-5797-5951-6012-
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