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 . 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 SELL signal For short term Crudeoil is in SELL position.Positionally Immediate support for Crudeoil is 5788.Resistance for the Crudeoil is 5994-6043-6172-6515-6521-6593-
Short term and Intraday Level of CRUDEOIL
Currently Crudeoil is in SELL position Crudeoil has formed a new 5 day low yesterday but failed to keep the trend so if selling has to considered better below5762.5 Buy if above 6014.0 The Crudeoil is now trading in highly oversold level. The oscillator is showing BUY signal
Intraday Trend- Buy is advised above 5877.7 with a stop at 5785.4 Below 5762.5 go for sell
Intraday Resistance of CRUDEOIL are 5863.8 : 5900.1 : 5935 : 5951
Intraday Support of CRUDEOIL are 5776.2 : 5739.9 : 5706.1 : 5690.4
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