Now Crude is trading around $100.50 & as we can see on charts crude finally manage to broke below the support trade line holding from start of 2014. The downside breakout came with good technical indicators like the candlestick pattern is turning negative, RSI moved below 50 mark. However 200 SMA is still providing some support.
Now MCX Crude is trading around 5108 ($93.66) & as we can see on chart in last fortnight crude traded on both side & made a top of $97.43 & made a low of $91.93. However it was difficult to identify the 1st directional move & thus we stayed neutral.