MCX crude oil Monthly report for November 2016

Free mcx crude oil monthly tips for nov 2016 Free mcx crude oil monthly tips for nov 2016 Mcx crude oil future on last trading session closed at 3109 with heavy loss. In October series, mcx crude oil achieved both side targets given by me. On long side we saw buy rally from 3000 to 3460 and on correction and downtrend side 3325 and 3100 targets achieved. Mcx crude oil future is in downtrend but technically oversold.   For month of November, mcx crude oil future outlook is bullish and strategy remain buy on dips. Mcx crude oil monthly support zones as well as fresh buying levels are 3070 and then 2950. On upside 3270 is major pivot level for crude oil future. Below it outlook remain weak and strategy remain sell on rise, but currently as oil prices are in oversold zones. Mcx energy traders can take contra call and follow buy on dips view for technical bounce back rally up to 3270. Above 3270, mcx crude oil future become bullish and enter into uptrend. Above 3270, crude oil monthly resistances as well as medium to long term targets will be 3400 and 3600.   Mcx crude oil weekly chart price trend and momentum both are strong bullish. We saw major support and long rally start at 2900 level and on upside 3550 is medium term target for crude oil prices. We already saw high up to 3460 and now correction. Long term investors above 2900 keep buy and accumulate view and expect 3550 as target in medium to long terms.

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Pramod Baviskar

Professional Market Trader And Owner Of Dalal Street Winners Advisory And Coaching Services. Working Since 2007 And Online Presence Since 2010. We Provide Highly Accurate And Professional 1 Entry And 1 Exit Future, Option, Commodity, Currency And Intraday Stock Tips On Whatsapp With Live Support And Follow Up.
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