NYMEX / WTI CRUDE Analysis 19-Oct-2017

Update 23-Oct-2017

 

Update: 9:08 PM: Are we going to see more fall?

20-Oct-2017 

CMP 51.57
Res: 52.53/52.83
Sup: 50.85/49.08

As long as crude resisted by 52.53, we can see 50.85 again and further 50.20/49.08/48.77 and other targets as per previous analysis.

Alternate view:
But we could see a POSITIVE DIVERGENCE in 1H chart. Is the job of of this divergence done or still in continuation.  Will this divergence is going to take more control or Down trend will continue? Let us wait n watch.

 

19-Oct-2017

CMP: 52.24
Sup: 51.9/51.46/49.08
Res: 52.38(.34)/52.53(.55)/52.83(.89)

Bearish:
If the above resistances resists,
52.83 --> 50.25, (48.78), (46.46-45.91), 42.71
52.53 --> 52.00, (51.75), (51.36-51.27), 50.73. MADE LOW 50.85
52.38(.34) --> 51.9, 51.77-51.7, 51.46

Bullish:
If Crude breaks 52.53/52.83, we will see 52.97 first and further 53.63-53.79, 54.39, 54.7...

As of now, my view not changed and I am still bearish as long as 52.53/52.83 resistances hold.

NOTE: READ DISCLOSURE BEFORE TAKING ANY TRADE DECISION.