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Crude Analysis: More Upside Steam Left

Last Updated: February 17, 2020 By Divesh
Caution Ahead
Crude Oil sellers should wait for higher levels for new Short positions.

Technically if we see Crude Oil on MCX Exchange, can see rise towards 3875-3880 levels. At that range, we can see again Bears getting active. 

crude oil weekly chart
Crude Oil Weekly Chart

If we discuss the LARGER picture, then last week, Crude Oil jumped back from the weekly support area.

The safe & new Buy-side position can be taken on holding above 3750 for the target of 3790/3830/3880 levels.

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Crude Oil Resistance

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