MTECHTIPS MCX CRUDEOIL INTRADAY trading tips 16-11-2016
MTECHTIPS MCX Crudeoil is bearish for medium-long term .Currently Crudeoil is in strong downtrend and the trend is supported with good volume 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 HOLD SHORT position.Positionally Support for the Crudeoil is 3059-2980-.Resistance for the Crudeoil is 3108-3128-3175-3201-
Short term and Intraday Level of CRUDEOIL
Currently Crudeoil is in HOLD SHORT position Crudeoil is in sideways so for short term better buy above 3139.6 or hold with stop at 2879.0 The next resistance will be at 3085.0 The oscillator is showing SELL signal
Intraday Trend- Buy above 3139.6 and keep stop below 3026.6 Target is 3190.1 next 3273.8 Below 2976.3 trend reversal can occur and next level is 2892.9.