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 Technical Analysis – Corrective Bounce Ahead?

24 sec read

Crude (12.9.2014) fall sharply in last few weeks & reach to the $90 psychological level.

Now crude is trading around $92.40 & the bounce $90 mark is well  supported by many factors like 261.8% February retracement. , a lower trendline of descending channel as well as a very strong positive divergence. All this together providing a buying opportunity at current level.

 
On fundamental side , continue demand for sanction on russia putting a dent on crude production future.

OILDaily

Based on above studies , crude possibly move towards $94.80 & then $96.50. a day close below $89.50 will delay the forecast.

  MCX ->    S2(5550)         S1(5550)        cmp(5678)       R1(5740)        R2(5833)     


Note – Above technical analysis is not a buy/sell recommendation.

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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