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Crude weekly outlook for trading Levels

DSR Broking

Crude oil

Crude weekly outlook Minor support for the commodity lies in the zone of 3150 to 3160. Support for the commodity lies in the zone of 3080 to 3100 where Fibonacci levels and medium term moving averages are lying. If the commodity manages to close below these levels then the commodity can drift to the levels of 3000 to 3030 where short term moving averages are lying.

Resistance for the commodity lies in the zone of 3200 to 3230 where Fibonacci levels are lying. If the commodity manages to close above these levels then the commodity can move to the levels of 3280 to 3300 where 200 Daily moving averages are lying.

Broad range for the commodity in the coming week can be seen between 3080 – 3100 on downside & 3280 – 3300 on upside.

The Crudeoil is in perfect uptrend .Currently Crudeoil is in strong uptrend and the trend is supported with good volume The open interest is not increasing with trend . Cautious point is buying at higer levels seems decreasing. The oscillator is showing BUY signal For short term The current position is BUY .Positionally Support for the Crudeoil is 3094-3045-3044-3005-2996-2970-. Immediate resistance for Crudeoil is 3213


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