MCX Crude December as seen in the weekly chart above has opened at 4767 levels initially moved lower, but found good support at 4715 levels. Later prices rallied sharply towards 4854 and finally closed sharply higher from the previous weeks closing levels.
For the next week we expect Crude prices to find support at 4805-4790 levels and then strong support is seen at 4755-4735 levels. Trading consistently below 4730 levels would trigger correction initially towards 4678 then 4632 and then finally towards the major support at 4570 levels.
Resistance is now observed in the range of 4895-4915 levels. Trading consistently above 4925 levels would lead towards the strong resistance at 4950 levels, then 4984 and then finally towards the Major resistance at 5042 levels. (NEAL BHAI 9999974733)
No comments:
Post a Comment
If you have any doubts, Please let me know