CRUDE OIL 04.06.2012 to 08.06.2012 (NEAL 9999974733)

MCX Crude June as seen in the weekly chart above has opened at 5057 levels and then moved sharply higher, but found


strong resistance at 5132 levels. Later prices fell sharply breaking all the support levels towards 4611 levels and finally

closed sharply lower from the previous weeks closing levels.

For the next week we expect Crude prices to find support at 4450-4430 levels. Trading consistently below 4430 levels would

further extend the current fall initially towards 4350 levels, and then finally towards the major support at 4270 levels.

Strong Resistance is now observed at 4770-4800 levels. Trading consistently above 4800 levels would trigger a sharp rally

initially towards 4880 levels, and then finally towards the major resistance at 4970 levels.

MCX / NYMEX Crude Oil Trading levels for the week (04.06.2012 to 08.06.2012)

Trend: Down

S1- 4450 / $ 79.60 R1-4790 / $ 85.90

S2-4270 / $ 76 R2-4970/ $ 89.60

Recommendation: Sell MCX Crude June between 4760-4780, SL-4870, Target -4540/4450.

OR

Buy MCX Crude June Between 4450-4430, SL-4330, Target -4740.