Crude NYMEX/MCX VIEW 4/6/2014

Based on 1H Chart:

NYMEX:

CMP: 102.85
I expect a pull back towards 102.64/102.53/102.43/102.35/102.10(100%). Any reversal from these levels, I expect upward move towards 102.98/103.51/103.93.

Trade Idea:
Sell SL103. Target min. 102.64.
Buy Between 102.53-102.43, SL 102, TGT 102.98/103.34.

MCX:

CMP: 6117
I expect a pull back. retracement levels 6104, 6095, 6087, 6080, 6059(100%). Any reversal from these levels will take crude to 6131, 6150-6175.

Trade Idea:
Sell with SL 6131 for 6106 and refer retracement levels.
Buy with SL 6055, TGT 6100, 6131, 6150-6175.


NOTE: FROM THESE UPPER LEVELS, EXPECTING A BIG FALL. Will update charts from the bigger picture later.

From new high, My 1st Targets are: 102.10, 6059.