The Crudeoil is in long- term bull phase .Currently Crudeoil is in strong uptrend but volume is unsatisfactory The open interest is not increasing with trend . Cautious point is buying at higer levels seems decreasing. The oscillator is showing SELL signal For short term Crudeoil is in HOLD SHORT position and closed below 1 month low with volume signals down breakout.
SUPPORT AND RESISTANCE :-
Support for the Crudeoil is 4550-4432
Resistance for the Crudeoil is 4802-4929-4972-4983
SHORT TERM TREND :-
Currently Crudeoil is in HOLD SHORT position Crudeoil is in sell mode sell below 4473.2 buy only above 5097.0 Yesterday the selling was with volume so risk takers can go for shorting at current rate with stop at 5097.0 The oscillator is showing SELL signal
INTRADAY TREND :-
Sell if open below 4473.2 with stop loss at 4681.2 or sell below 4378.5
Buy is not advised till it cross 4776.3
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