Navigation

Crude oil Bulls take charge


NYMEX crude oil has broken above the swing high of 52.86 and continues to form higher top higher bottom pattern on the daily chart. In addition, it is trading above crucial moving averages. In the near term, 52.56–51.35 will act as support levels on the way down. Dips towards the support levels can be seen as a buying opportunity. On the way up, it is likely to inch higher towards 55.24– 56.30. The short and the medium-term outlook remains bullish for NYMEX crude. The daily momentum indicator is in a positive mode.
 
Share

Shubhlaxmi

Shubhlaxmi Commodity is a Free portal where you are provided with all market such as Commodity stock and futures and live market prices and live charts and Free support and resistance level

Post A Comment: