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Sunday, May 1, 2016

CRUDE OIL UPDATES FOR MAY 1 2016

SUNDAY



WEEKLY UPDATE




Mcx Crude oil last week given a breakout above 2970 levels and moved up to 3100 levels



and closed at 3030 levels, overall trend for the commodity still remains bullish



but for short term we expect a correction up to 2900 levels, immediate resistance



for the commodity is at 3070 and 3100 levels and supports at 2970 – 2950 – 2900 levels.



Weekly Call :



Sell Mcx Crude Oil between 3030 – 3070



with SL above 3110


for target 2970 – 2930 – 2900.


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