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 [email protected] HaPpY TrAdInG.

Crude Reaching Reversal Zone Once Again.

26 sec read

Crude (28.5.2014) respected our last report & reach to target, however bounced again from major support line.

Now crude is trading around $103.60 & as we can see on charts, crude once again reaching to the resistance zone ,from where we already witness 2 reversal earlier. The candlestick pattern producing a negative candlestick pattern which suggest for a reversal ahead. At the same time indicators showing over bought situation.

On fundamental side, even after last week more than 7 MB withdrawal, crude inventories are on higher & there is no disturbance on production side.

cl-jul14daily

[wp_ad_camp_5]

 
Based on above studies, we will prefer to sell crude for possible target around $101 in coming days. A day close above $105.40 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 [email protected] HaPpY TrAdInG.

The Iran-Israel Tension and Crude Oil Trend Analysis

With ongoing tensions in the Middle East, particularly between Iran and Israel, the crude oil market finds itself once again at the mercy of...
Rajandran R
3 min read

Leave a Reply

Get Notifications, Alerts on Market Updates, Trading Tools, Automation & More