Technical Outlook & Trading Strategy:-
The price of crude oil has been consistently bouncing from the Rs 4075—Rs 4060 levels over the past few sessions of trade.
This price zones have now become strong support zones for the prices of crude oil.
The key indicators have been gradually coming out of the oversold territory. Hence, we expect the price of crude oil to pullback from current levels and thus test the Rs 4170 levels on the upside in the near term.
Traders can look to buy on dips to Rs 4075--Rs 4060 levels with a stop loss of Rs 4039 levels for the above mentioned targets.
No comments:
Post a Comment