24 Mar 2017
Thursday - WTI Crude opened 48.38, made a high of $48.48 and low of $47.58 and closed around day’s low to $47.63(00.75).
Medium term view- Crude should have touched 56 which got missed by $2. It has created a doubt in mind about upside still pending, however we maintain our bullish view intact towards $54.50-$56.70-$62.20 unless $43 is breached. We will consider to re-enter around $47-$46.50 levels for targeted levels, aggressive traders can take entry anywhere near $47.
Crude is continuously trading lower from a week, strong support of dead see can be seen around 47-46.50 levels. For the day 47.95-47.90 should act a resistance.
Conclusion: WTI Crude should touch 47.40-47.03, till it's trading below 48.50 levels.
…stockstopp(stockstopp@gmail.com)
No comments:
Post a Comment