Crude strongly resisted near 200 day Weekly EMA. After Resisting near 74$ it shows strong move towards
$68 and showing negative divergence pattern in daily charts.
By Applying 13,34,55 EMA Principle we could find that crude is trade below all the three major EMA zone
13 EMA – 69.98
34 EMA – 69.54
55 EMA – 68.14
So $68-70 could be a possible resistance band. If any immediate reversal to take place then possibly
this zone will act as a immediate resistance zone
Related Readings and Observations
Crowd Sentiment & Trading against them Why crowd goes together – humans nature is such that most people need to be emotionally secure in their decisions, which is precisely why they get pulled along with herd, and they chose to […]- My View Remains the same I like to Keep this post Simple 3124 cant be crossed in Nifty on closing basis. Still my view remains the same Rajandran Source:
www.marketcalls.in
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