SUNDAY
WEEKLY UPDATE
Crude Oil in mcx dropped to 5500 levels and then recovered In last two days to
test 5700, however we maintain our bearish view in the commodity ,
prices jumped to test 5700 levels because of short covering over all
trend for the commodity is in the hands of bears and we expect prices to
correct up to 5100 in the days to come if prices closes below 5640 levels.
Weekly Call :
Sell Crude Oil only on a close below 5640
with stops above 5700
for targets 5570 5530 and 5500.
Positional we expect prices to drop up to 5100 levels.
