CRUDE OIL TREND FOR TODAY-16-May-2013

Crudeoil is in long- medium- short-medium- short- term bull phase .Currently Crudeoil is in strong uptrend and the trend is supported with good volume The open interest is not increasing with trend . Cautious point is buying at higer levels seems decreasing. The Crudeoil is now trading in overbought level. The Crudeoil is now trading in overbought level. The oscillator is showing SELL signal For short term Crudeoil is in HOLD LONG position.Positionally Support for the Crudeoil is 5123-5082-5065-5059-5020-.Resistance for the Crudeoil is 5218-

Short term and Intraday Level of CRUDEOIL

Currently Crudeoil is in HOLD SHORT position Crudeoil has formed a new 5 day low yesterday but failed to keep the trend so if selling has to considered better below5079.7 Buy if above 5285.0 The oscillator is showing SELL signal
Intraday Trend- Buy is advised above 5240.6 with a stop at 5114.7 Below 5079.7 go for sell
Intraday Resistance of CRUDEOIL are 5227.9 : 5284.3 : 5244.7 : 5259.8
Intraday Support of CRUDEOIL are 5092.1 : 5035.7 : 5029.7 : 5015

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