Commodities
Monday, May 07, 2012
CRUDE
CRUDE: COOLING OFF( Out look- Bearish)
Crude closed @$98.49 on 07-05-2012. It slipped below crucial support of $100. It has confirmed downward trend for short & medium term both.
One should short @CMP with SL-@$106.50 for the tgt1-$89 & tgt2-$74 in short to medium term.
It has minor support around $95-$92 zone for short term pull back, if it holds.
But overall TREND reamins down till its reverses.
Its weekly KST (Momentum Indictors) also in sell, confirming medium term down trend.
One should short @CMP with SL-@$106.50 for the tgt1-$89 & tgt2-$74 in short to medium term.
It has minor support around $95-$92 zone for short term pull back, if it holds.
But overall TREND reamins down till its reverses.
Its weekly KST (Momentum Indictors) also in sell, confirming medium term down trend.