Commodities
Friday, February 25, 2011
crude
CRUDE: (BULIISH) (Still room for Upside)
Crude closed at $97.28 on 24/02/2011. As per my earlier view written on 8/11/2010, crude has achieved short term target of $95. Infect it went beyond it & made a high of $ 103.41 on 24/02/2011.
It tried to break out from the channel as mentioned earlier & as per chart attached. It has breakout around $ 100 level. All the momentum indicators are in Buy.
One should buy it at every decline with SL-$86.25 till its overall trend reverses for the target of $110 (i.e. - A=C in wave-Y).
It tried to break out from the channel as mentioned earlier & as per chart attached. It has breakout around $ 100 level. All the momentum indicators are in Buy.
One should buy it at every decline with SL-$86.25 till its overall trend reverses for the target of $110 (i.e. - A=C in wave-Y).