WTI Crude, MCX Crude Positional View 21-Feb-2016

WTI Crude

CMP 32.08$
Supports:26.04
Resistances: 50.91/62.57


As per my analysis,

Based on Montyly chart, As long as 50.91/62.57, resists, I expect to see 26.21 (done), 20.49$ (Ultimate target) positionally. Further, we may see extended targets as 16.74.

Based on Daily chart, If crude resisted by 34.19/34.80, I expect to see 26.21$ first and 26.04 again. Further, I expect to see, 20.49, 16.74.

Trade Idea:For any sell, Max and Strict SL 34.25/35$ for min 26.3$ and further targets 20.55, 16.89$.

MCX Crude

CMP: 2202
As long as MCX Crude resisted by 2344, I expect to see 1705, 1658-1631, 1509-1491 and further 999/989 Long term positionally.

Trade Idea:
For any Sell SL 2344
Max and Strict SL 2415

Targets: 1705, 1658-1631, 1509-1491 and further 989

This analysis is for study purpose only.
Read Disclaimer always before taking any trading decision.
All the best.