MTECHTIPS MCX CRUDEOIL BUY ABOVE 4730 SL 4600 TGT 4950 TGT 5050 STRONG BUY 4580

Mtechtips CRUDEOIL MCX  intraday trading analysis 05-10-2012

Mcx crude oil 19 oct 2012 expiry future on last trading session closed at 4679 with gains.in last week as given crude oil achieved target of 4680 after slipping below 4980. on daily chart trading below all short term level means very bearish trend.mcx crude oil weekly level now at 4730 above that 4950 is monthly and 5050 is 3 monthly level .both are in bearish momentum. stronger rupee, fundamental data from us and china growth aspects will remain key issues for crude oil prices in upcoming weeks. from daily chart analysis we think that crude above 4600 may give technical bounce back upto 4900-4950.

WWW.MTECHTIPS.COM

07489294118-119