Crude MCX Tips – Above 5269 Next Ultimate Target 5600 —5800 Stop Loss Paid – Neal Bhai Reports
Crude Oil Any Big Panic Only Buy
WTI Crude Oil Report
The WTI Crude Oil market was very volatile during the trading session, rallying quite significantly but then turning around to form a bit of a shooting star.
The shooting star is of course a negative sign, and although we did blow out some stops during the day, we gave back the gains to show just how choppy and difficult this market is going to be in this area.
At this point, I think that we probably need to pull back towards the $71 level to find the massive support that had been part of the market. When you look at the short-term charts, it is very choppy and sideways, and most of all range bound. I do think that the upward proclivity remains though, so selling isn’t something I’m looking to get involved with.