Guys.....
Crude oil market fell significantly during the course of the session on Monday, slicing through the $32 level. Because of this, market look as is ready to go lower. Below the level $ 30, we feel that the market will more than likely trying to reach towards the $28 level. Technically market is looking weak on chart and prices is trading below the resistance trend line on its daily chart. In 4 hourly chart, prices are sustaining below its support trend line indicating downtrend movement in oil prices. It is having an important resistance at the level of $32.30 and support at the level of 30.50. If it breaks its support level on downside and sustains below it then we can expect it to show further bearish movement in Crude oil prices.
INDICATORS:-
MACD is sustaining in its negative territory indicating the bearish trend in the prices.
RSI is sustaining in its selling zone indicating the upcoming bearish trend in the prices
STRATEGY:-
Crude oil is looking bearish on charts for next few trading session. One can go for sell on higher level strategy for intra day to mid term positions in it.
www.tradingsignalreviews.com
Crude oil market fell significantly during the course of the session on Monday, slicing through the $32 level. Because of this, market look as is ready to go lower. Below the level $ 30, we feel that the market will more than likely trying to reach towards the $28 level. Technically market is looking weak on chart and prices is trading below the resistance trend line on its daily chart. In 4 hourly chart, prices are sustaining below its support trend line indicating downtrend movement in oil prices. It is having an important resistance at the level of $32.30 and support at the level of 30.50. If it breaks its support level on downside and sustains below it then we can expect it to show further bearish movement in Crude oil prices.
INDICATORS:-
MACD is sustaining in its negative territory indicating the bearish trend in the prices.
RSI is sustaining in its selling zone indicating the upcoming bearish trend in the prices
STRATEGY:-
Crude oil is looking bearish on charts for next few trading session. One can go for sell on higher level strategy for intra day to mid term positions in it.
www.tradingsignalreviews.com
