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 outlook – reversal possible in coming days ?

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crude

 
Crude oil‘s rally continued last week and reached as high as 109.32 dollar/barrel. Crude given a long bull run in new financial year. Now its time to review at reversal possibilities.

As we can see on charts crude fired from lower level & now reaching to the topline of current ascending channel around $110.50. This area also represent a parallel resistance which is in combination of 200% feb correction level. Thus the combination of many hurdles & over bought indicators we may witness a profit booking season from these levels.

Based on above studies, we will prefer to sell crude & will be looking for some possible targets around $100 & lower. $106 could be little stopper for the above.

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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