MCX CRUDE OIL TREND 6th May

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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OIL PRICES JUMP Due to Libya unrest

Unrest in Libya has started to hit oil price globally as well as economically. In last few days oil has touched its high in the market.
A barrel of oil cost $91 dollars 67 cents on December 17, 2010, when a Tunisian protester set himself on fire, sparking a wave of discontent.
On January 25, there was a small decline in oil prices to $95.35 per barrel. This was the time when thousands of protesters in Egypt had called for President Hosni Mubarak to step down.
Oil prices surged again to $101.11 as the Egyptian president resigned on February 11. Oil prices increased to $104.01 per barrel on Feb 17 as protests spread to Bahrain, Yemen and Libya.
Several cities in Libya have fallen into rebel hands after residents rose up in protests, backed by mutinous army units aSUPPORT & RESISTANCEnd drove out Gaddaffi loyalists.


CRUDE OIL PRICES TODAY 4th March
The Crudeoil is in perfect uptrend .Currently Crudeoil is in strong uptrend and the trend is supported with good volume The open interest is not increasing with trend .. The oscillator is showing BUY signal For short term The current position is BUY.


INTRADAY TREND
Buy is advised above 4639.2 with a stop at 4493.5 Below 4451.1 go for sell


SUPPORT & RESISTANCE
Support for the Crudeoil is 4378-4207-4136-4109-4078-4003-. Immediate resistance for Crudeoil is 4655.