Crude oil signal

Crude oil signal subscribers enjoyed as we had a good day selling this major commodity. We advised our subscribers sell this major commodity. It crashed and our subscribers enjoyed as our signal achieved target. Here is our recommend trade today.

Sell Crude oil at 69.30$ with stop loss of 70$ for target of 68.60$. It crashed beautifully and our subscribers enjoyed the profits of nearly 70 pips in this trade. We juiced approx $700 profit per lot in this trade.

Currently crude prices are trading at 67.70$. A good support on technical chart stands at 66.80$, If traders break and sustain below this level. Then expect more pressure in this major commodity upto 65.70$- 64.70$ today.

crude oil chart

A good resistance on crude oil chart now stands at 69.20$, If traders manage to break this resistance and sustain above our resistance. Then expect good recovery upto 70$- 70.90$ in upcoming days.

Conclusion: Crude oil trend is weak for now, Avoid any major buy trade for now.

Bullion view

Bullion are also trading under pressure after good opening and giving a good buy breakout in early session. Currently gold price trading in weak zone as it staying below 1240$. A good support as mentioned in morning post at 1235$, If traders break this support and sustain below this level then expect more pressure upto 1230$- 1224$ today.

Silver support on technical chart stands at 15.65$, If traders break and sustain below this level. Then expect more pressure upto 15.50$- 15.30$ today.

Precious metals are under extreme pressure despite good crack in dollar index. Despite weak data from US bullion are in weak zone. Its likely we are going to test more lows. Lets see what happens. Keep an eye on both levels to take a trade.

Market is ignoring all positive sign to push metals higher. Lets wait for proper buy rather going a blind buy. Keep a strict stop loss in every position.

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By marafat