WEEKLY TECHNICAL REPORT FOR COMEX/NYMEX FUTURE
NYMEX CRUDE OIL 1ST Contract
Current Market Price: $71.34
Support: $66.50-$67.70-$68.96-$69.50-$70.20
Resistance: $72.40-$73.70-$74.90-$76.10-$77.70
Weekly View:
· 100 day moving average at $69.40 is the key short term support.
· Crash will be there only below $69.40.
· I will prefer to remain on the sidelines this week.
· In case crude oil does not fall below $69.40 this week, then chances of $77.70 will be very high.
Disclaimer: Any opinions as to the commentary, market information, and future direction of prices of specific currencies, crypto currency, metals and commodities reflect the views of the individual analyst, In no event shall Insignia Consultants or its employees have any liability for any losses incurred in connection with any decision made, action or inaction taken by any party in reliance upon the information provided in this material; or in any delays, inaccuracies, errors in, or omissions of Information. Nothing in this article is, or should be construed as, investment advice. Prepared by Chintan Karnani
NOTES TO THE ABOVE REPORT
All price above are in US dollars, unless otherwise specified.
Indian Standard Time (IST): +5:30 GMT
Current Market Price (CMP)
UK session starts around 1:00 pm Indian Standard Time (+5:30 GMT)
US session starts at 6pm pm Indian Standard Time (+5:30 GMT)
PLEASE NOTE: HOLDS MEANS HOLDS ON DAILY CLOSING BASIS
PLEASE USE APPROPRIATE STOP LOSSES ON INTRA DAY TRADES TO LIMIT LOSSES.
THE TIME GIVEN IN THE REPORT IS THE TIME OF COMPLETION OF REPORT
WEEKLY LEAD REPORT
Lead 31st October 2018: (previous day close/CMP Rs.152.20):
Support: 137.20-140.80-144.70-146.40-148.60-150.70
Resistance: 154.70-156.30-159.60-163.50-167.10-169.70
o 100 day moving average is at 152.60.
o 200 day moving average is at 156.30.
o Lead can zoom to 167.10 and 169.70 on a break of 156.30.
o Corrections upto 144.70 are a part of the bull rally.
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