28 Mar 2017
Monday-WTI Crude opened $48.12, made a high of $48.13 and low of $47.08 and closed around $47.86(-00.26).
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. Recently entry has triggered and we would be riding wave now.
Crude is continuously trading lower from a week, however $47-$47.50, is acting a strong support. However we would trade with buy on dip strategy for the day. And close above $48.20 and $48.40 would confirm, short term reversal sign towards $49 and higher.
Conclusion: WTI Crude should touch 48.40-48.75, till it's trading above 47.80 levels.
…stockstopp(stockstopp@gmail.com)
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