Crude oil
After vertical fall, we have seen range bound trading in Crude Oil from last few days though trend is negative. Below 3625 our target was 3267.
Now what to expect???
Crude oil is forming inverse Pennant Pattern on Daily Chart
having support at 3267 and resistance at 3350---3430
Three consecutive closes + weekly close below 3267 will see
free fall in Crude oil till 3000---2850 mark in days to come
Downside target looks...
3934-3226= 708 and Breakout points is 3267
So target is
3267-708= 2559
Any
sharp rise will be selling opportunity for the downside target of 2559
For Today.... Crude oil has support at 3230 and resistance at 3270---3430. Looks weak and any sharp rise will be selling opportunity but trade with levels only.
Three consecutive closes + weekly close below 3267 will see free fall in Crude oil.
More will update to our subscriber
Trade with levels only!!
