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Sunday, April 1, 2012

NYMEX / COMEX CRUDE OIL TREND , LEVEL & TRADING STRATEGY FOR THE WEEK AHEAD : 02 APRIL 2012

BEST BUY & SUPP @ 104 (CURRENT RESIS) ACTUAL RESIS & BEST SHORT LEVEL @ 105.58 A BREAK ABOVE 107.16 UPSIDE TGT IS @ 109.84/111.15 ; HOWEVER A CRACK BELOW 102.42 DOPWNSIDE TGT IS INTACT @ 99.99/98.68

TECHNICAL TREND

FAST SCO THE INITIAL INDICATOR IS HOLDING NEAR THE SUPPORT CHANNEL. HOWEVER THE MAJOR INDICATORS SLOW SCO / COMMODITY CHANNEL INDEX (CCI) & FULL STO HAS CRACKED BELOW THE SUPPORT CHANNEL & HEADING STRAIGHT SOUTHWARDS

TREND : FIRM BEARISH

STRATEGY : SELL CRUDE OIL ON ALL RISES TILL 104 – 105.58 FOR TGT 98$

“98’ IS THE LEVEL WHICH CAN ALSO BE ASSUMED OR TERMED AS A GAP FILLING LEVEL BEFORE A NEW PATTERN EMERGE OR BREAK OUT

LTP – 102.97

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