MONDAY
WEEKLY UPDATE
Crude Oil last week dropped from 3300 levels to 3120 levels and closed at 3193 levels,
it has taken supports at 3120 levels and recovered back trend for the commodity remains
bearish but sell either near resistance or below supports we expect prices to give a
sharp breakdown below 3100 to test 2900 levels, due to some local policy changes
inr may get weaker which will support the prices of crude oil in Indian Rupee.
But sell on rises or below breakdown is advisable.
Weekly Call :
Sell Mcx Crude Oil near 3280 – 3310
with SL above 3370
for targets 3200 – 3150 – 3100.(High Risk)\
Sell Mcx Crude Oil only below 3100
and add further on rises up to 3130
with SL above 3220
for target 3000 – 2950 – 2900.(Low Risk traders)
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