CrudeOil MCX: Buy
Entry price: 4972 - 85
Stoploss: 4916
Target: 5113
Time Period : 5 Sessions
After making a high of 5498 on 4th January 2012, the commodity has been falling through out the month.
It is important to note that at 4906-10 a support is placed.
Even the momentum indicators suggest the slowing down of the pace.
But, if the support line is breached, the fall would be up to 4500.
But, the indicators like Slow Stockastic and Fast Stockastic on weekly basis also, suggest a slowing down of the pace.
The WTI Crude monthly chart indicates a resistance at $104.
So, one can buy Crude at 4972 -85 with a stoploss of 4916 (yesterday's low) for a target of 5113.
Entry price: 4972 - 85
Stoploss: 4916
Target: 5113
Time Period : 5 Sessions
After making a high of 5498 on 4th January 2012, the commodity has been falling through out the month.
It is important to note that at 4906-10 a support is placed.
Even the momentum indicators suggest the slowing down of the pace.
But, if the support line is breached, the fall would be up to 4500.
But, the indicators like Slow Stockastic and Fast Stockastic on weekly basis also, suggest a slowing down of the pace.
So, one can buy Crude at 4972 -85 with a stoploss of 4916 (yesterday's low) for a target of 5113.
Sheetalpuri Goswami
+919879028295
No comments:
Post a Comment