MCX CRUDE OIL Trading Tips Technical Analysis Chart Graph forecast- Crude facing strong trend line resistance at current levels, can see some further strength once closes above 5808. (Updated on 17th September 2014, Wednesday).

MCX CRUDE OIL

• As per previous report published, MCX CRUDE OIL showed sharp weakness after breaking its support zone @ 5933 and crude made a low around 5526. (Click here to see our previous report published on MCX CRUDE OIL).
• As shown in chart no1, Crude weakness after breaking it support of 5933.
• According to chart no2, MCX Crude is facing strong trend line resistance around 5808, technical chart indicates if Oil closes and stays above 5808 then further strength is expecting.
• Also See - MCX ZINC moving in a up channel formation, as long as trading in between bulls will be favored.
• As per chart no3, Crude is also facing 38.2% fibonacci retracement resistance around 5808, if closes above its resistance and stays above then will find next resistance around 5890 its 50% fibonacci retracement. Chat also indicates that from last couple of days volume are high with bullish candle this indicated bull are taking interest. Close Watch.
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• Intraday tips - If crude starts trading above 5808 during trading hours then intraday bulls action can be see. Close Watch.
• Click here to see all the trading reports (trading tips) published by us on MCX CRUDE OIL.
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