Insignia Consultants
New Delhi
Wednesday, 27 November
2019
TIME
9:57 AM IST
----------------------------------------------------------------------------------------------------------------
MCX CRUDE
OIL REPORT
Current
price Rs.4167.00 (MCX Crude Oil, 18th December expiry)
Bearish
case: Crash or short term
bearish phase will be there if crude oil does not break and trade over 4297 by
10th December. Bullish case: Till future close on 18th December: Trend is bullish with 4297 as key resistance. Only a break of 4297 will trigger another wave of rise to 4425 and 4569. Key long term support is at 3913 and initial support is at 3913.
Trading strategy: (1) I am against new buying position in crude oil unless it breaks and trades over 4297 with strict trailing stop loss.
Crude oil is firm on hope that a US-China trade deal next month will result in higher global growth next year. A massive sell off to $50 and below (nymex crude oil) will be there if the trade deal does not happen and/or trade deal escalates.
Disclaimer: Any opinions as to the commentary, market
information, and future direction of prices of specific currencies, 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. All analyses used
herein are subjective opinions of the author and should not be considered as
specific investment advice. Investors/Traders must consider all relevant risk
factors including their own personal financial situation before trading.
Websitewww.insigniaconsultants.in. Prepared by
Chintan Karnani
Disclosure: Members, employees, directors, clients and all other people associated
with “Insignia consultants” do trade in MCX metals and energies. They may or
may not have positions on the trading strategies mentioned in this report. They
may also have open positions in MCX metals and energies futures in trading
strategies other than those mentioned in this report.
Insignia Consultants does not have any branches in India.
Insignia Consultants does not have any marketing agents in any city in
India.
NOTES TO THE ABOVE REPORT
ALL VIEWS ARE INTRADAY UNLESS OTHERWISE
SPECIFIED
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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
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