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 . In last few days volume based selling happened in the Crudeoil 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 SELLposition.Positionally Support for the Crudeoil is 5776-.Resistance for the Crudeoil is 5948-5992-6019-6052-6254-
Short term and Intraday Level of CRUDEOIL
Currently Crudeoil is in HOLD SHORT position Crudeoil is in sideways and sellers was at high so for short term better buy above 5913.7 or hold with stop at 5640.0 The next resistance will be at 5829.0 The oscillator is showing BUY signal
Intraday Trend– Buy is advised only above 5913.7 with a stop at 5772 Below 5732.6 go for sell and put stop at 5874.2
Intraday Resistance of CRUDEOIL are 5901.9 : 5967.3 : 5938 : 5954.1
Intraday Support of CRUDEOIL are 5744.1 : 5678.7 : 5709.1 : 5693.4
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Disclaimer:- These calls for learning Purpose Only.No real trade should be carry out on this bases.Hence Profit & loss only on paper not real.Views express by all participants are for information & academic purpose only.