CMP 58.94
Resistances: 61.56/62.57
Supports: 56.84/56.50
Previous Analysis: http://rajmarketresearchanalysis.blogspot.in/2015/05/wti-crude-anjalysis-update-28-may-2015.html
As long as crude resisted by 62.57, I am bearish and expecting to see 59.52, 58.81, 58.26, 56.50, 55.07, 54.18. 52.75.
Next retracement level is at 68$ level.
Supports: 56.84/56.50. break of these supports, this view is invalid.
Resistances: 61.56/62.57
Supports: 56.84/56.50
Previous Analysis: http://rajmarketresearchanalysis.blogspot.in/2015/05/wti-crude-anjalysis-update-28-may-2015.html
02-June-2015 3:58 PM IST
CMP: 60.91As long as crude resisted by 62.57, I am bearish and expecting to see 59.52, 58.81, 58.26, 56.50, 55.07, 54.18. 52.75.
Primary View:
As per my analysis, Crude has done 23.6% (normal retracement level of wave 4) retracement of Wave 3 at 58.71 and made high of 62.57.
Now, if Crude resisted by 61.56 we can see lower levels (56.84,-56.50, 55.5, 54.06, 53.18, [51.74], 49.41, 47.11, [45.68], 43.36, 41.90).
Now, if Crude resisted by 61.56 we can see lower levels (56.84,-56.50, 55.5, 54.06, 53.18, [51.74], 49.41, 47.11, [45.68], 43.36, 41.90).
Alternate View:
Any break of 61.56/62.57 confirms the correction is not yet over and we may see 63.44, 66.09, 66.56, 68.93.
Next retracement level is at 68$ level.
Supports: 56.84/56.50. break of these supports, this view is invalid.
Trade Ideas:
These are advanced sell levels and stop loss may vary after the trade activation.
1. Sell Crude at cmp 58.94 or between 59.2-60.55, Max SL 61.70/62.65, TGTs: 56.84,-56.50, 55.5, 54.06, 53.18, [51.74], 49.41, 47.11, [45.68], 43.36, 41.90
2. Buy Crude above 61. 56 for 63.44, 66.09, 66.56, 68.93 with Strict SL 56.75/56.4.
3. Sell Below 56.45 for 55.5, 54.06, 53.18, [51.74], 49.41, 47.11, [45.68], 43.36, 41.90 with SL 61.70/62.65.
1. Sell Crude at cmp 58.94 or between 59.2-60.55, Max SL 61.70/62.65, TGTs: 56.84,-56.50, 55.5, 54.06, 53.18, [51.74], 49.41, 47.11, [45.68], 43.36, 41.90
2. Buy Crude above 61. 56 for 63.44, 66.09, 66.56, 68.93 with Strict SL 56.75/56.4.
3. Sell Below 56.45 for 55.5, 54.06, 53.18, [51.74], 49.41, 47.11, [45.68], 43.36, 41.90 with SL 61.70/62.65.
