Each Levels here act as support and resistant and vice versa so wait for an Breakout or Breakdown of the above levels for entering a trade. Buy Levels-52.25/52.83/53.77 Sell Levele-53.77/53.39/52.25
USOIL looking out to break the strong resistance of 51.65 level. Once if the price break the 51.65 level the further uptrend may come upto 61.15 level. It's a short term recommendation. Trade: Buy above = 51.70 Target 1 = 56.60 Target 2 = 61.05 Stop Loss = 45.00 Total Reward Points = 9.35 Risk Points = 6.7
Its looks like it is going to catch 60-65 dollar in feb-march
Crude oil markets have been responding positively to the cut by OPEC and this has effected the sentiment of crude heavy stocks like XOM. In Sept of this year a double bottom formation was seen as confirmed by MACD indicator followed by a sharp increase in prices. The 50 day EMA shows signs of slight uptrend. I would expect a correction in the price down to the 48...