On Wednesday, Crude Oil closed at 4992 and in the early session Crude Oil futures rise above $101 per barrel as Iran threatened an immediately halt crude oil sales to the European Union and as US economic indicators showed an improving economy.
Crude Oil continued it's positive momentum, falling short of the $100 per barrel mark as US stocks turned negative while the dollar recovered and mixed macroeconomic data's.
Resistance: 5,042 - 4,983
Support: 4,914 - 4,904.
Strategy:- Traders are advised to buy Crude Oil (Feb) for long-term with stop loss placed at 4537.02 and can sell for short-term with stop loss placed at 5178.63.
Crude Oil continued it's positive momentum, falling short of the $100 per barrel mark as US stocks turned negative while the dollar recovered and mixed macroeconomic data's.
Resistance: 5,042 - 4,983
Support: 4,914 - 4,904.
Strategy:- Traders are advised to buy Crude Oil (Feb) for long-term with stop loss placed at 4537.02 and can sell for short-term with stop loss placed at 5178.63.
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