Mcx crude oil weekly-achieved 3025 and 2875 sell targets now bouncing back

Mcx%2Bcrude%2Boil%2Bfuture%2Bweekly%2Btechnical%2Banalysis%2Breport%2Bfor%2B15%2Bto%2B19%2Bmay%2B2017_thumb?imgmax=800 Mcx crude oil weekly-achieved 3025 and 2875 sell targets now bouncing back

Mcx crude oil future weekly technical analysis report for 15 to 19 may 2017

Mcx crude oil future this week closed at 3062 with gain. After last 3 weeks’ sharp selloff prices recovering from lows.   Mcx crude oil future price trend is down and outlook is still bearish. Prices are bouncing back from oversold zone but on upside has strong resistances around 3100 to 3150 zone and below it short term outlook remain bearish.   On downside 3025 then 2875 and 2650 are support zones as well as target levels for traders.   From long term view, mcx crude oil future has given bearish breakdown below 3055 levels and turned bearish for 2017. Below 3055 on weekly closing basis crude oil will remain sell and long term targets are 2400 and below.

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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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