Crude Oil

Crude oil 


Supports $98.08-97.41-96.33   MCX (4,320 4,370 )
                                   4410*
Resistance $100.24*-100.91-101.99  MCX (4,462 4,530)


         
Buy only if it breaks todays high(4410) 


i have  Bearish mood with crude . One could sell


around 4368 with a stop of 4410   TRGT 4344--4300



Its trading in tight range and today inventory also is there   Crude oil inventory are expected to drop by 
1.2 Million barrel, which is expected positive for oil 
prices today. 



And US Energy Department report is expected to be 
released today and is forecast to show a decline in oil inventories 
by 2 million barrels. If data comes in as per expectations then oil 
prices will take support. 





Crude oil prices are expected to trade with on a rangebound note 
today, taking mixed cues from  dollar weakness  and  US debt 
concerns.  
In the later part of the trade the commodity will take cues from 
the inventory report by the US  Energy Department and if data 
comes in as per expectations then prices will take support. 


Today totally my sentiment towards Crudeoil is SIDEWAY medium risk traders dont enter in crudeoil trade today risk traders can enter as per abv mentioned level.