Crude Analysis 15-Aug-2016

18-Aug-2016
CMP 47.62
Sup: 46.55$
Res: 49.89$/50$

As long as crude supported by 46.5$, I expect to see 48.1, 48.55, 49.55, 50$ and further 52.2$.
At present, crude looks more bullish.

TRADE IDEA:
Buy crude between 47-46.64, max sl 46.5$ for 48.1...

Important levels: 47.45 (broken), 48.80, 50$

Crude breaking all res levels, and taking support on 20/21 SMA multiple times. Clear break of this needed for sellers.

As I have told earlier, seasonal up move in crude running. Are we heading towards 52/55/57$ before big fall from October 2016?

Let us wait n watch.



15-Aug-2016
Supports: 43.34/41.05/39.21
Res: 49.91/51.64(89)

As long as crude resisted by 49.89, there is high possibility of seeing new low.

But as per seasonality, crude not supports down move now, only after september 30th.

So, there is high possibility of seeing a bigger correction OR big up move towards 52/55/58/60$ from where crude can fall towards 21/16.89$.

OR
as stated earlier, it can also be a triangle, which can last for more years.

Buyers sl 43.21$/39.21$ max.
Sellers SL strict to 51.70$.


NO TRADING SUGGESTIONS FROM MY SIDE.

IMPORTANT LEVELS: 46.7-48.89


CHECK RES/SUPPORT/SL AND TRADE ACCORDINGLY.