Sell Crudeoil Around 8100 SL ABOVE 8150 TGT 8050/8000 - Axis Securities
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Crude Oil
Crude Oil opened with an upward gap and traded volatile throughout the day. Crude Oil closed at 8050 with a gain of 138 points. The daily strength indicator RSI has turned positive from the oversold territory and is above its reference line indicating positive bias. On the daily chart It has formed a small bullish candle and has closed above its previous session's high indicating positive bias ahead. On hourly chart Crude Oil is trading above 20 and 60 day EMA's indicating positive bias in the short term. However strong resistance zone is seen around 8100 level as it is not able to sustain near the mentioned level. Traders may sell Crude oil around 8100 for the target of 8050
SELL CRUDE OIL AROUND 8100 SL ABOVE 8150 TGT 8050/8000
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