CMP 51.55
Res: 52.83
Sup: 51.19(immediate support)/50.14/49.08
Scenario 1(up move): If crude supported by 50.14, we can see 51.73/52.83 and a break of 52.83 we will see 53.88/54.22
Scenario 2(down move): If crude resisted by 52.83 we will see 50.14 first and 49.08. A break of 49.08 we will see 48.6/45.6/45.05.
I prefer to be on sell side as long as 52.83$ not broken.
IMPORTANT LEVEL: 51.7-51.95.
Res: 52.83
Sup: 51.19(immediate support)/50.14/49.08
Scenario 1(up move): If crude supported by 50.14, we can see 51.73/52.83 and a break of 52.83 we will see 53.88/54.22
Scenario 2(down move): If crude resisted by 52.83 we will see 50.14 first and 49.08. A break of 49.08 we will see 48.6/45.6/45.05.
I prefer to be on sell side as long as 52.83$ not broken.
IMPORTANT LEVEL: 51.7-51.95.
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