Crude oil technical levels
HI My Name is Shravani.
I am a Technical Analyst. I found this thread Interesting, its about Crude Oil and I would Like to Express My Technical View about Crude Oil.
Crude Last Year was at $70 bbl When a buy Signal was Given when it went past $75bbl and Since then it went up and made a life High at $146.80 bbl thats 147.
Now For the Short Term Crude Oil Should Stay Below 117. That is a Laxman Rekha for the Crude oil. Above 117, Resistance for Crude oil is at 127-128.
A close above 128 can Help Crude Oil to propel or say Zoom like a Rocket to the Level of 147 and this time above 147 the Target for Crude oil is 156.
So Crude Oil Below 117 is Better for us, i.e for the Sensex and For the Global Markets. Below 117, the next Crucial Support for Crude is at 108.
108 is a Level of Bounce back. We can expect a sharp Retracement from this Level. God Bless if Crude Oil falls Below 108. That would be a Blessing coz below 108 we can Expect a fall to the level of 99. And then Crude oil will become Range Bound between 99 - 118
I hope My Predictions go true and In Case of any queries regarding Crude or any stock,or Index, like Nifty, Sensex, Dow Jones, Nasdaq, I would like to share my technical Knowledge about all of the given above with you all. All of You are most welcome.
Regards,
Shravani N. Hadge