SUNDAY
WEEKLY UPDATE
Mcx Crude oil last week bounced from 5560 to test a high of 5800 and once again
dropped back to 5640 levels and even closed well below 5640 levels which is
considered as strong supports for the commodity in long run. Now we expect
prices may drop further to 5500 next supports level and any close only below
5500 will have steep correction up to 5100 with some mid term supports.
Weekly Call :
Sell Crude oil between 5600 – 5640
with stops above 5715
for tgt 5500.
(Any close below 5500 add further shorts with
stops at cost for targets 5380 , 5200 and 5100..
(positional)
