SUNDAY
WEEKLY UPDATE
WEEKLY UPDATE
Crude Oil was trading in down side for the fourth
consecutive week and on
weekly basis we
expect further correction to take in crude oil with strong
resistance above
5110 levels, trend for the commodity seems extremely
bearish , on weekly basis
prices have already closed well below the long
term trendline as marked above, and
in Fibonacci the fall is extended up to
4675 levels all put together we expect
correction to take place with the said targets.
Weekly call :
Sell crude oil 4975 – 5020
with stops above 5110
for targets
4840 , 4755 and 4675.(positional too )
Low risk traders are advised to sell only on close below
4940 levels.
