Crudeoil is bearish for medium-long term .Currently Crudeoil is moving sideways The oscillator is on SELL signal and Crudeoil is coming down from overbought level and has moved down its previous low with good volume points to a negative break out . The oscillator is on SELL signal and Crudeoil is coming down from overbought level For short term Crudeoil is in HOLD LONG position and Crudeoil closed below 1 week low with volume signals down breakout.Positionally Support for the Crudeoil is 5979-.Resistance for the Crudeoil is 6081-6139-6151-6189-6369-
Short term and Intraday Level of CRUDEOIL
Crudeoil and closed below 1 week low with volume signals down breakoutCurrently Crudeoil is in SELL position The Crudeoil is in downtrend For short term buy only if close above 6171.0 The Crudeoil is now trading in highly oversold level. The oscillator is showing BUY signal
Intraday Trend- Buy is advised above 6120.8 with a stop at 5957.8 Below 5911.6 go for sell
Intraday Resistance of CRUDEOIL are 6062.3 : 6108.6 : 6185.4 : 6132.9 : 6149.2
Intraday Support of CRUDEOIL are 5969.7 : 5923.4 : 5846.6 : 5900.2 : 5884.3
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ReplyDeleteCrudeoil trading range for the day is 5791-5945. Crude oil dropped due to ongoing expectations that Libyan output is expected to rise.
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