epicresearchindore
Epic Research
For the next week we expect Crude prices to find support at 4781-4764 levels. Trading consistently below 4760 levels would trigger correction initially towards then strong support at 4715 and then finally towards the major support at 4652 levels.
Resistance is now observed in the range of 4915-4925 levels. Trading consistently above 4925 levels would lead towards the strong resistance at 4990 levels, and then finally towards the Major resistance at 5038 levels.
MCX / NYMEX Crude Oil Trading levels for the week (03.12.2012 to 07.12.2012)
Trend: Up
S1- 4792 / $ 87.75 R1-4923/ $ 90.15
S2-4715/ $ 86.50 R2-4990 / $ 91.40
Recommendation: Buy MCX Crude December between 4805-4790, SL-4750, Target -4910/4980.
Resistance is now observed in the range of 4915-4925 levels. Trading consistently above 4925 levels would lead towards the strong resistance at 4990 levels, and then finally towards the Major resistance at 5038 levels.
MCX / NYMEX Crude Oil Trading levels for the week (03.12.2012 to 07.12.2012)
Trend: Up
S1- 4792 / $ 87.75 R1-4923/ $ 90.15
S2-4715/ $ 86.50 R2-4990 / $ 91.40
Recommendation: Buy MCX Crude December between 4805-4790, SL-4750, Target -4910/4980.