Monday, 25 May 2015

Energy News and Tips

On the daily chart, Crude Oil is witnessing a multiple support at 3720 mark. A sustainable move below the same will lead to change of trend on the short term charts after a couple of months. Thus, 3720 will remain a critical support for crude in the coming session. A move below the same could lead to some profit booking in the commodity and as a result it can dip further to test 3550 level in the coming week

RSI is also on a verge of giving a sell signal from the overbought zone by supporting the bearish view.
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