Crude........
Swings between gains and losses are set to continue in Crude oil. The prices settled at Rs 6393 per barrel on Tuesday. Last session saw Crude oil testing a high of Rs 6407 and a low of Rs 6322 per barrel. The prices are already in an overbought zone and rallies from here will be full of friction. However a safe approach of buying the Crude Oil is on its lows. Ascending triangle pattern is in the making but the confirmation of breach of resistance is yet to be received.
Trading Strategy: SELL MCX Crude AT 6380-90 TARGET 6325 SL 6410
Source by Commodity Insights
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