CRUDE OIL: - CONSOLIDATE STRATEGY BUY ON DIPS R2-4920 R1-4850 S1-4700 S2-4650
Overall trend of the Crudeoil is bearish for medium-long term .Currently Crudeoil is in strong downtrend with good momentum and the trend is supported with good volume The open interest is not increasing with trend .The Crudeoil is now trading in highly oversold level. The Crudeoil is now trading in highly oversold level. The oscillator is showing BUY signal For short term Crudeoil is in HOLD SHORT position.Positionally Immediate support for Crudeoil is 4672.Resistance for the Crudeoil is 4898-4936-5051-5375-5557-5735-
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