mcx crude oil weekly support at 2600 target 3050

mcx crude oil weekly forecast for 23 to 27 nov 2015
mcx crude oil future this week closed 2836 with gain.
crude almost touched previous bottom of 2577 and
given weekly positive closing which might be reversal sign.
weekly chart also suggesting short covering rally ahead.
crude on downside will have weekly support at 2675
and then 2590 while on upside 2880 and 2960 are
strong resistances.
here hold long with strict stop loss below 2650
for target 2880 and then 2960.
swing traders place crude oil target order at 3055.

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Updated: 22/11/2015 — 8:18 PM

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Pramod Baviskar

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