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Crude (20.03.2013) respected our analysis once again & reach to mention target area $94.80 almost. MCX price little shuffled in contract difference. Check out last reports , how we cached the falling knight both the side.
Now MCX Crude is trading around 5075 ($92.90) & as we can see on charts, now crude has been trapped in small range. The above chart explain area $95 as middle point while $98.20 & $91.40 working as resistance & support respectively. However this range is big enough for trading but direction identification is quite difficult.Candlestick pattern is turning negative while indicators are neutral.
Based on above studies, we will prefer to stay neutral & wait for a pin point to enter into trade.
The likeliness of crude going UP is high, as dollar will be under some pressure in the coming weeks.. The overall trend for crude is up..
sir cruid oil me kya karna chahiye