Mcx crude oil weekly-breakdown below 3250 is fresh sell signal

Mcx crude oil future weekly technical analysis report for 29
may to 2 June 2017

Mcx crude oil future this week closed at 3216 with high
volatility and large sell off on news flow. After last 2 weeks sharp short
covering rally traders seems to be taken some profits off the table. This week
we almost saw 300 points volatility in crude oil slipped from high of 3370 to
almost 3100 level.
On daily chart mcx crude oil future below 3250 remain weak
and sell. For next week crude oil future outlook is weak and on downside
traders can expect 3100 to 3025 as short term target levels. On upside 3250 and
3290 are strong resistances.

From long term view, mcx crude oil future has given bearish
breakdown below 3055 levels and turned bearish for 2017. But now strong
recovery rallies from last 2 weeks bought crude above 3055 support and retracing
back to 3055 support zone.

The Author

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.
COPYRIGHT © 2009-2018. Pramod Baviskar. Dalal street winners advisory and coaching services. FAQ | Disclaimer | Privacy Policy

This website is best viewed using Microsoft Internet Explorer 9 or higher, and/or latest version of Google Chrome and Mozila Firefox browsers.