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Thursday, August 12, 2010

CRUDE OIL 19AUG EXPIRY TRADING STRATERGY AHEAD - 12/10/2010

AS PER THE TECHNICAL ANALYSIS ..WE ASSUME THAT DOWNSIDE FOR CRUDE OIL IS LIMITED & CURRENT LEVEL 3560 IS THE SIGN OF CONSOLIDATION .FROM HERE ON WE ADVICE OUR TRADERS TO CLOSE SHORTS & START BUYING BETWEEN 3545-3565 FOR THE NEXT UPMOVE... THE UPSIDE TARGETS ARE -3699/3717(1-5 TRADING SESSION)...BUT THIS TIME CRUDE MIGHT BREAK OUT FROM THE RECENT HIGH 3826 WHICH WAS ACHIEVED A WEEK AGO..IN THE INTERNATIONAL MARKET CRUDE MANAGED TO REACH 82.56$ / BARREL...& THEN PROFIT BOOKING WAS WITNESSED.. A GENUINE BOUNCE BACK FROM HERE ON 76.08$ WILL TAKE CRUDE TO TEST 85$/BARREL..IN THE NEAR TERM..

CMP- 3565 / INTERNATIONAL  - 76.08$
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