MTECHTIPS MCX CRUDEOIL INTRADAY trading tips 15-11-2016
MTECHTIPS MCX Crudeoil is bearish for medium-long term .Currently Crudeoil is in strong downtrend but volume is unsatisfactory The open interest is not increasing with trend . Noting point is selling at lower levels seems decreasing. The Crudeoil is now trading in oversold level. The Crudeoil is now trading in oversold level. The oscillator is showing BUY signal For short term Crudeoil is in SELL position.Positionally Immediate support for Crudeoil is 2867.Resistance for the Crudeoil is 3006-3097-3108-3122-3174-3212-
Short term and Intraday Level of CRUDEOIL
Currently Crudeoil is in HOLD SHORT position Crudeoil has formed a new 5 day low yesterday but failed to keep the trend so if selling has to considered better below2864.4 Buy if above 3058.0 The oscillator is showing SELL signal
Intraday Trend- Buy is advised above 2957.8 with a stop at 2884.8 Below 2864.4 go for sell.