Saturday 18 January 2014

CRUDEOIL NYMEX weekly Outlook (20-Jan-2014)

Trading Near to very Crucial Levels @91$, Strong weekly Support lies @91$ and a Sharp bonce back has been seen in Crude-oil from those levels. We have a Positive outlook on Crude-oil till it sustains above 91$. Short Position Can be initiate only below 90$ Hence we Recommend to Go long on CRUDE-OIL on Current levels and buy till 91.50$ with Stop-loss below 90.50$ As Risk and Reward ratio on Going long is high. Reverse Long Position if break 90$ and Closes below it on 4 hourly charts.

Profit Play's Take on CRUDE-OIL:
1.       Buy CRUDE-OIL till 92$ For Targets 100$ with Stop-loss of 90.50$
2.       Sell CRUDE-OIL below 90$ for Targets of 86$ and Stop-loss of 93$