Sell MCX Crude June; target Rs 5005-4950: Fortune Financial
Fortune Financial Services has come out with its special technical report on crude oil. The research firm has recommended traders to sell MCX Crude Oil June below Rs 5190 and more below Rs 5160 for target of Rs 5005 & Rs 4950 with SL above Rs 5300 on closing basis.
June 03, 2013 / 17:01 IST
Fortune Financial Services' special report on crude oil.
MCX Crude Oil June expiry contract is forming a double top at Rs 5400 range and neckline is there at Rs 5160 on daily chart, while it’s also forming an H&S pattern on 4hourly chart with neckline near Rs 5190. Market will turn negative below Rs 5160 for immediate target of Rs 4950, while Rs 5300 will act like a minor resistance and Rs 5400 as major resistance for trend reversal.Trade Plan -
Traders can sell below Rs 5190 and more below Rs 5160 for target of Rs 5005 & Rs 4950 with SL above Rs 5300 on closing basis.Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions. 
Read More
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
