CMP 41.75$
Res: 42.9
Supports: 37.6/35.23
Crude is trading at important level. Immediate big down moves / lower lows are in doubt as of now, because, crude has broken important resistance 42.46$ and made high 42.85/42.88.
For any sell strict n max sl must be 42.9$. If break likely scenarios
1. We have started bull move. If this is the case, buy on dips will be the main strategy.
2. We have started bigger correction with resistance at 62.6$. If this is the case, correction may last for longer time.
Seasonal Crude Moves based on the historical charts:
Feb/Mar - Aug/Oct - BULL MOVE.
Reference Charts:
http://rajmarketresearchanalysis.blogspot.in/2016/01/update-trading-ideas-historical.html
Res: 42.9
Supports: 37.6/35.23
Crude is trading at important level. Immediate big down moves / lower lows are in doubt as of now, because, crude has broken important resistance 42.46$ and made high 42.85/42.88.
For any sell strict n max sl must be 42.9$. If break likely scenarios
1. We have started bull move. If this is the case, buy on dips will be the main strategy.
2. We have started bigger correction with resistance at 62.6$. If this is the case, correction may last for longer time.
Seasonal Crude Moves based on the historical charts:
Feb/Mar - Aug/Oct - BULL MOVE.
Reference Charts:
http://rajmarketresearchanalysis.blogspot.in/2016/01/update-trading-ideas-historical.html
