MTECHTIPS MCX CRUDEOIL INTRADAY trading tips 05-06-2017

MTECHTIPS MCX CRUDEOIL INTRADAY trading tips 05-06-2017
MTECHTIPS Mcx crude oil future in month of May closed at 3124 with loss.
This was fifth losing month for oil prices and sell off continues in energy commodities. In last 5 month oil future tumbled from highs of 3780 to low of
2840. This month crude oil future recorded low at 2840 while high was around 3370. Total 530 rupee or 15% range and another negative closing. For month of June 2017, mcx crude oil future outlook remain bullish above 3110 support level. Daily chart price pattern and indicators are suggesting trend reversal and upcoming short covering rally. Above 3110, mcx crude oil will remain buy on dips and expect positional targets around 3380 and then 3640. Below 3110 on daily closing basis, downtrend will continue and crude future might touch previous low of 2840. Energy Commodity traders above 3110 keep buying view with stop loss below major bottom of 3050 rupees and keep targets at 3380 and then 3640 for month of June 2017. From long term view, crude oil future given bearish corrective move towards 3050 support, tested it and now moving upside towards bullish target of 4300.
WWW.MTECHTIPS.COM
07489294118-119