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.

Crude Oil Short term Technical Outlook

25 sec read

Crude (28.10.2013) moved long way to downside & reached to the long term target of $96.

Now crude is trading around $97.80 & as we can see on charts, crude was able to manage above 61.8% feb correction level of last ascending wave.This area also supported by the parallel support area of june 2013 as well as the oversold indicators were looking for some relief.On the fundamental side, upcoming FOMC meeting will provide more direction. meanwhile survey suggest for no major change in FOMC policy & bond buying may continue till march 2014.

 
crude
Based on above studies, we will prefer to buy crude for possible targets around $100 & then may be $103 (less chance). A day close below $95.80 will reject 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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2 Replies to “Crude Oil Short term Technical Outlook”

  1. Hi,

    Thanks for your valuable efforts.
    It will better if you can provide technical analysis for Indian MCX market.

    Regards,
    Rangesh

  2. @rangesh : mcx technical analysis involve very high volatility due to INR factor which is practically not able to track perfectly. We do manage our clients trade in mcx with an sharp eye on INR & others.

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