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    Saturday, May 17, 2008

    nymex light crude...


    here's my nymex active crude oil fut contract chart(weekly), moving near upper end of channel, upper end of channel $130/bbl plus, vol still high and price still moving strongly, stochs/rsi in overbought zone, support seen near $120.50/118/116/bbl, adx showing gradual weakening strength of trend.

    3 comments:

    Lee said...

    Hey Abhay...Good to see you posting on your blog again(i had stopped visiting for some time since posts were very less) :)

    Btw, crude either crashes here or goes parabolic!!! :-D

    A put-call combo looks like a good stratgey if we can trade this.

    Anonymous said...

    What abt ur posting on May 13th.. Whether nifty will still fall to 4800 levels now. Right now, momentum is looking strong.

    abhay r somkuwar said...

    thanks for posting ur comments.

    lee yes there have been fewer postings this year generally given guidance on nifty moves here, mostly as u know i post in that forum in responses to queries etc, if i repeat same thing here also some people have complains whats difference in content, i too feel blog shud have some exclusive and useful content(which mostly i have done here) and to focus more on my blog i'll have to be less active elsewhere u know, which is what iam thinking of now. btw i have created one blog eyesonthecash.blogspot.com for putting stocks ideas which look interesting to me in near term etc.

    gaurav, momentum is still strong and no bearishness as such in nifty, nifty also closed near imp fibo lvl of 5152 but 200dma needs to be crossed and closed above for further bullishness, so no harm to do some profit booking here if latest high is not crossed soon then one can take cautious view if spot closes below 5100 on high volumes.

    regards.

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