mcx crude oil weekly-heading towards targets 2800-3070

mcx crude oil future weekly chart 9 april 2016 Mcx crude oil future this week closed with gains at 2627.   Crude oil future weekly chart price trend is down but momentum is on recovery side. Expect another upside leg of recovery move.   Crude oil after breakdown below 2550 almost touched my target of 2300 and after taking support around it given strong reversal rally.   Breakout above 2550 was strong and above it expect upside targets of 2820 and then possibly 3080.

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Pramod Baviskar

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