hii friends,
as expected crude oil falling from 5080 to 4800 today. on wednesday it successfully closed below 100 sma n heeading towards 200 sma. the crucial support 4870 is broken now & stock is likely to touch 4680 if it sustains below 4940. currently crude is taking support on fibonacci retracement golden ratio of 38.2% i.e 4815.. closing below 4815 will create more selling pressure for the target 4680 in the short term.. buying is possible only if stock succeeds to close above 4940. happy trading
as expected crude oil falling from 5080 to 4800 today. on wednesday it successfully closed below 100 sma n heeading towards 200 sma. the crucial support 4870 is broken now & stock is likely to touch 4680 if it sustains below 4940. currently crude is taking support on fibonacci retracement golden ratio of 38.2% i.e 4815.. closing below 4815 will create more selling pressure for the target 4680 in the short term.. buying is possible only if stock succeeds to close above 4940. happy trading
