Commodities
Tuesday, September 20, 2011
CRUDE
CRUDE: (Bearish)
Crude closed $ 85.70 on 19/09/2011. It was forming rising wedge kind of pattern in wave-B Pull back. It has started final wave-C down of Double zigzag by confirming breaking out of this pattern as per chart attached.
In my earlier view on 10/08/2011, I discussed about pull back in crude, that’s looks like over. We can now eyeing lower levels target of $ 68 in coming days.
Daily KST also went in to sell & confirmed for the same. One should sell it with SL-$90.50 for lower targets in short to medium term.
In my earlier view on 10/08/2011, I discussed about pull back in crude, that’s looks like over. We can now eyeing lower levels target of $ 68 in coming days.
Daily KST also went in to sell & confirmed for the same. One should sell it with SL-$90.50 for lower targets in short to medium term.