mantracommodity

Corrective bounce ahead

Long
FX:USOIL   CFDs on Crude Oil (WTI)
Crude (12.9.2014) fall sharply in last few weeks & reach to the $90 sociological level.

Now crude is trading around $92. 40 & the bounce $90 mark is well supported by many factors like 261.8% feb ret. , a lower tradeline of descending channel as well as a very strong positive divergence. All this together providing a buying opportunity at current level.

On fundamental side , continue demand for sanction on russia putting a dent on crude production future.

Based on above studies , crude possibly move towards $94.80 & then $96.50. a day close below $89.50 will delay the forecast.

MCX -> S2(5550) S1(5550) cmp (5678) R1(5740) R2(5833)


Note - Above technical analysis is not a buy/sell recommendation. For recommendations Contact Us
Call Us : 088890 34986

Comments

Home Stock Screener Forex Screener Crypto Screener Economic Calendar About Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Private Messages Chat Sign Out