May 16, 2012

MCX CRUDE OIL Chart Analysis

  • First chart is  MCX Crude oil may contract in four hour time frame. Price with Ichimoku cloud shows the power of a trending market. 
  • Price if stays below 78.6% Fib level as shown in second chart then this fall will extend towards 4950 and lower.
  • If daily candle manages to pullback and close above 78.6% Fib level Longs should be cautious.


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