CRUDE Oil chart analysis
- Crude oil hits the triangle resistance line of weekly chart.
- Daily chart is showing some weakness at the resistance line.
- Price is also near the Golden ratio of weekly time frame. Crude oil bulls need a convincing breakout above the triangle resistance line and the Golden ratio for a sustained up move to happen. Price is likely to give a false spike above these resistance line and may start to correct.
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Markets Quantified
ReplyDeleteNIFTY 01-Apr-2013
Current Market Situation :
NIFTY current close : 5704
NIFTY resistance level : 5756
NIFTY support level : 5589
NIFTY sentiment : sideways
NIFTY dominant cycle period : 17 days
Levels Tomorrow :
NIFTY intraday resistance 1 : 5728
NIFTY intraday resistance 2 : 5756
NIFTY intraday resistance 3 : 5796
NIFTY intraday support 1 : 5680
NIFTY intraday support 2 : 5653
NIFTY intraday support 3 : 5613
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