24 February 2015

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CRUDE LEVEL'S UPDATE
DATE 24-FEB-2015 TIME 10:56 AM

CRUDE IS TRADING WITHIN RANGE 2950-3355(CMP3080) WITH NEGATIVE BIAS
FUNDAMENTALLY CRUDE IS VERY WEAK DUE TO VERY HIGH INVENTORY PILING UP ALL OVER THE WORLS, AS OPEC DENIED TO TRIM DOWN PRODUCTION IN THEIR LAST MEETING AND GLOBAL ECONOMIES(CHINA/JAPAN/USA) ECONOMIC WORRIES ALSO ADDING FUEL TO DECLINING CRUDE OIL PRICES.

ANY SUSTAINED BREAKDOWN BELOW 2948 CAN TAKE CRUDE BACK TO RECENT MULTYYEAR LOW OF 2720-2710 WHICH IS STILL VERY STRONG SUPPORT FOR CRUDE.
AND BREAKOUT ABOVE 3350(SHOULD CLOSE ABOVE FOR 3 COSICUTIVE DAYS TO CONFIRM) CAN TAKE CRUDE UPTO 3640-3800-4100

I STILL TRADE CRUDE WITH NEGATIVE BIAS DUE TO TECHNICAL AND FUNDAMENTAL ISSUES WHICH IS NOWHERE GOING TO SOLVE IN RECENT TIMES.

USE VERY STIRCT STOP LOSSES WHILE TRADING CRUDE AS IT MIGHT VIPE OUT ALL YOUR CAPITAL IF YOU STUCK IN WRONG DIRECTION

VISIT THIS SPACE ON REGULAR BASIS TO SEE ANY UPDATED LIVE CALL IN BASEMETALS