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Observations from the chart
- WTI Crude trading in up trend channel since last 1 month
- 20 day EMA crossover above 50 day EMA and 200 day EMA
- 50 day EMA crossover above 200 day EMA
Based on the observations we feel:
WTI Crude to be in positive territory &
If channel trade is to continue there seems to be good opportunity to go long for target of 54-55 with stop below 48.50 on closing basis
Take care & safe trading...!!!
Regards
Indiamarketoutlook