Crude Oil Price 2nd Feb 2016
Crude Oil price has crashed vertically over 5% from our upper side area and yesterday we had clearly mentioned that now it is time to be careful in crude oil on the long side. Those who have not read our previous post in Crude oil may please read it here
Now overall Crude Oil will remain in range of 26-27 on lower side and on higher side we could see 48-49. Overall this will be the trading range in crude oil. Please understand that we are not suggesting day to day trading for crude oil. We are providing these levels for those traders / biz owners who are dealing in Crude oil derivatives since they directly get affected by the price movements in terms of raw material cost. Hence our advise to them is to buy or do longer term contracts around 31-27 area for buying. Please keep in mind that enter contracts only if you have confirmed buying orders for your finished products, if not do not go aggressive.
Overall the positive cycle in crude oil will continue till the next 25-45 trading days and we expect massive volatility in crude oil prices (both sudden spikes and sudden falls out of now where in Crude oil price in next 3-4 trading days)
Good Trading To You!