stay long in crude future for target 3030

mcx crude oil weekly predictions for 30 nov. to 4 dec. 2015

Mcx crude oil future this week closed with gain. This was second gaining week for this energy commodity. This week crude oil future made low around 2707 while high was at 2803. Almost 5% weekly swing and closed with the gain. Strong bottoming out pattern observed on the weekly chart so traders must follow the buy and accumulate view with strict stop loss for target 3030. See sharp short covering rally above 2860 levels.

The long-term trend breakout happens above 3310 only till then primary trend remain bearish.

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Pramod Baviskar

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