After yesterdays steep fall, Crudeoil has been consolidating. Crossing 50% Fibonacci level can take it higher. Breaking yesterday's low will take it further down.
Its been observed Oil making upward move from quiet a time now and forming flag and pennant pattern in its upward movement. To take new position lets wait for the breakout on either side of trend line on lower time frame of 1 hr for confirmation and then take decision until then just wait till this whipsaws get clear. You guys can check out my last update on...
crude oil prices are heavily falling in past 3 - 4 weeks. we can see good quarterly results in oil-based industries. it will also affect petrochemicals prices. so take a watch on companies which are in this sector, or having petrochemicals as a raw material.
Resistance Becomes Support.....I am expecting WTI Crude to hold $55.
Refer chart. double top formation trend line breakdown also possible. Vijayaraghavan.K, Kovilpatti
I personally am bullish on rupee and bearish on USDINR , looking TO CREATE MORE SHORT POSITION!
Will wait for a week or more for the right time to short.
let's C ..where it ll go...>>>> For more query comment below.. i ll happy to see your view, comment and feedback And follow for such more analysis ....