Monday, July 9, 2012

Crude Oil Weekly Trend

NYMEX Crude is technically consolidating on charts. Last week Crude Oil was traded at higher level but it end up down near to last week high. For the coming week $73 and $67 will act as major supports and $92 and $95 a barrel will be a major resistance in NYMEX Crude. In MCX Crude Oil major resistance is found at 5010 and 5210 and major supports will be 4430 and 4360. For the next week traders can use buy on lower level strategy, if NYMEX Crude sustains above the level of $80 a barrel then above 87.50 $ a barrel it can test the level of $89/$90.50/$92.50 a barrel and in MCX if Crude sustains above 4600 then above 4830 it can test the level of 4880/4930/4990 in this week. Trade by keeping the proper stop loss.

5 comments:

Imran Khan said...

crude oil weekly trend up side buy crude oil 3300 TGT 3350 TGT 3400 TGT 3500 Sl 3250 bank nifty future

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WTI Crude oil futures cut their losses as stocks opened on a firm footing in Europe.

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