Commodities
Monday, October 31, 2011
CRUDE
CRUDE: ( Grip of Bulls)
Crude closed @$93.32 levels on 28/10/2011. It made a low of $74.95 on 4/10/2011; it was short of anticipated equality target of $68 written on 20/09/2011.It surpassed crucial resistance & reversal levels of $90.50 levels & sustain above it from last 4 trading sessions.
It has also taken support @ monthly averages & closed as engulfing bull pattern on monthly charts. Its daily & Weekly KST are already in BUY.
It looks like trend reversal for crude with short term target of $100-102. One should keep SL-$83.77 for long trade.
It has also taken support @ monthly averages & closed as engulfing bull pattern on monthly charts. Its daily & Weekly KST are already in BUY.
It looks like trend reversal for crude with short term target of $100-102. One should keep SL-$83.77 for long trade.