Weekly Positional Crude Call April 28 - May 02,2014

See here last three days you can see bears outnumbered bulls, bear volumes comparably higher.

 

See here bulls resisted max.102.35 and are not supported, whereas  bears came in with large volumes

 

 

See +DMI and –DMI crossing

 

Rising ADX in hourly chart

 

MACD cross over in daily chart

  

 

 Hourly chart MACD crossover around 102 levels

 

IDEA - 1

Resistance 1	Resistance 2	Resistance 3	Resistance 4	Resistance 5
101.60	102.4	103.20	104.00	104.84
Support 1	Support 2	Support 3	Support 4	Support 5
99.22	98.44	97.66	96.87	96.10

IDEA -2

Retracements
138.2%	117.67
100% (a)	110.03
76.4%	105.31
61.8%	102.39
50%	100.03
38.2%	97.67
23.6%	94.75
0% (b)	90.03

Positional ideas:

Trading view : range bound 98.44 – 102.40

SELL above 101.30 and 102.00 FOR  TARGET  OF 99.30 / 98.60.

INR will rule this week  60.45 -61.00

@ MCX    Resistance 2	Resistance 1	Support 1	Support 2	Support 3
6250	6188	6126	6065	6005

SELL above 6180 and 6230 for target of

6065 /6005

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