Mantraa Commodity Mantra commodity is an analyst group involved in technical analysis of all major commodities gold, silver, crude, copper, natural gas etc. Mantra commodity serving to clients from last 7 years & made a strong bond of trust with our dedication towards work.Our main functioning area is .Technical analysis on all major commodities available HERE. Or you can write us on mantracommodity@yahoo.com HaPpY TrAdInG.

Bearish Crude Oil Technical – Short term overview

25 sec read

Crude Oil (20.09.2013) traded in tight range from last 4 weeks & looks like finding a direction, probably on downward.Now crude is trading around $105.50 & as we can see on charts, crude have taken out many minor supports when it started correcting from the top tradeline of long term ascending channel. Throughout this correction we have identified a triangle pattern which would produce a long move on either side.However we have also seen a corrective move below 61.8% feb level as well as a very negative candlestick pattern with neutral indicators.

crude

 
Based on above studies, we will prefer to sell crude for possible target around $102.50 & more . Only a day close above $109 will invalidated the forecast.

Mantraa Commodity Mantra commodity is an analyst group involved in technical analysis of all major commodities gold, silver, crude, copper, natural gas etc. Mantra commodity serving to clients from last 7 years & made a strong bond of trust with our dedication towards work.Our main functioning area is .Technical analysis on all major commodities available HERE. Or you can write us on mantracommodity@yahoo.com HaPpY TrAdInG.

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3 Replies to “Bearish Crude Oil Technical – Short term overview”

  1. Can you suggest me i’m an intraday trader both NFO & MCX. I hope amibroker platform does with Super trend indicator. Advise me on the same also real time data as well.

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