Monday, 21 January 2019

WTI Crude oil likely to find resistance at $ 55.00


WTI Crude oil prices are seen trading 
higher since 26th Dec’18 after finding support at USD 42.36.
Prices are currently at the upper band of the Bollinger and previous falls consolidation range.
Also momentum indicator Stochastic (14/3/3) is seen in overbought region suggesting a correction in coming days.
Going ahead prices at resistance and momentum in overbought region prices are likely to find resistance at 54.50-55.00 and turn lower again towards 50.

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Volume and Open Interest suggesting an accumulation in USDINR

USDINR futures prices were seen consolidating while  volumes  and OI were seen increasing suggesting accumulation.