Commodities Crude

Crude bottoming out

Finally we have seen some spark in WTI Crude and it has crossed my first possible target $33 which i posted on “Crude could rally a bit from here” on 18th Feb. Interestingly, breakout has given another bullish pattern “Double Bottom” and it the target comes down to $40 which is just above my second target of $38 which is 100 day average. Globally equity markets have picked up on expectation of economy recovery and expecting pull back in demand of Oil around the world. So now we can expect Crude to consolidate and resist near to 100 day avg around $38. 


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