Sep 08 2017

Crude OilNYMEX at current market 49.00 for a target of 47.75

Posted Date:-08-Sep-2017

Crude Oil(NYMEX):- The crude oil is trading at its major resistance zone. On a daily chart a downward sloping trend-line is applied to the peaks, ranging from 55.00, 53.73, 50.40, 50.19 and 49.39 which is showing the highs are getting lower. We suggest to sell the oil at current levels.

Trade Idea:- Sell Crude Oil(NYMEX) at current market(49.00) for a target of 47.75 with a safe stop-loss of 49.50.

Good Luck…!