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Sunday, November 23, 2014

CRUDE OIL UPDATES FOR NOV 23 2014

SUNDAY

WEEKLY UPDATE

Mcx Crude oil last week saw a momentum up to 4810 levels after November contract

expiry but on week end prices once again dropped below 4700 levels and closed

at 4695 levels, overall trend for the commodity remains bearish and is expected

to drop further to 4630 to 4600 levels if prices closes only below 4670 levels.

Last day trading candle confirms the bears upper hand in the market however

profit booking cannot be ruled out due to weekend closing.


Weekly Call :


Sell crude oil only on close below 4670

with stops above 4710

for target 4600.

Further correction is expected only on a close below 4600 levels.

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Thursday, November 20, 2014

CRUDE OIL UPDATES FOR NOV 20 2014

THURSDAY 9.25 PM IST



TECHNICAL VIEW

Crude oil support on closing basis below 4620

Weekly basis cld Tgt 4750 /4800

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