CRUDE OIL: - CONSOLIDATE STRATEGY BUY ON DIPS R2-5050 R1-5000 S1-4870 S2-4800
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 5027-5080-5295-5503-5683-5840-
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