akhil1206

Crude Oil Bottom or No bottom

NYMEX:CL1!   LIGHT CRUDE OIL FUTURES
103 0 0
Its difficult to find a bottom in a downward trend especially in the case of crude which has been a downward coaster ride fr last 11 weeks now and thr is no sign of the pain being eased...On a weekly front crude has hit a significant support at 91.7 and is also holding on to a trend line ...but if this support breaks the next psychological support is going to be 90$ and if it gets breached thing are going to bloody fr crude till 85$.

My call on crude go short below 90 fr tgt             of 85 and go long above 95 fr tgt             of 98 and above ....
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