IGI Logo

* On the daily chart, MCX Crude Oil has given “Flag Pattern” breakout, which is a bullish continuation pattern.

* Moreover, price has shifted above Upper Bollinger Band formation and Ichimoku Cloud, which indicates bullish strength in the counter.

* Furthermore, the price has also sustained above 50 days Simple Moving Average, which points out further bullishness in the near term.

* Also, momentum indicator Stochastic has given a positive crossover, which confirms positive momentum.

* Volume activity has been rising gradually after a correction and momentum indicator RSI (14) has also witnessed strength.

* Based on the above technical structure, we a i expect a bullish movement in Crude Oil (Feb) towards the level of 4400 in the near term.

Buy Crude Oil @ 4020 SL 3740 TGT 4400

To Read Complete Report & Disclaimer Click Here

Please refer disclaimer at https://choicebroking.in/disclaimer

Views express by all participants are for information & academic purpose only. Kindly read disclaimer before referring below views. Click Here For Disclaimer