April 27, 2011

MCX Crude Oil Report 27 April

Commodity crude oil at yesterday settled almost flat at 5000 in the yesterdays trading season. In daily chart market fails to close below short and medium term moving averages indicating strength in the trend.

The technical indicator RSI (14) is treading at 0.59 suggesting upside potentials for commodity.

The commodity market  for crude oil is open at 112.20(-0.01) indicating the flat opening for the day. It is expected that crude oil prices will remain higher and recommend buying for intraday.
Crude oil MCX: Buy May at 4990-5000 TP 5045/65 SL 4965
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