Crude is showing strength: Ashwani Gujral
NYMEX has crossed a resistance level which was around 95-96, so in a sense it is in a short term uptrend.
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| Updated: Ashwani Gujral, Chief Market Strategist, ashwanigujral.com in an interview with ET Now talks about crude prices.
How the technicals for crude looking?
NYMEX has crossed a resistance level which was around 95-96, so in a sense it is in a short term uptrend. 100 is a key level, above 100 it will probably gain momentum. Similarly, 115 is probably a level for Brent crude and above 115 you again get into a mode of where retest of the previous highs of 126-127 seem possible, so crude is showing strength, it seems that we are going to have an uptrend for a bit.
How the technicals for crude looking?
NYMEX has crossed a resistance level which was around 95-96, so in a sense it is in a short term uptrend. 100 is a key level, above 100 it will probably gain momentum. Similarly, 115 is probably a level for Brent crude and above 115 you again get into a mode of where retest of the previous highs of 126-127 seem possible, so crude is showing strength, it seems that we are going to have an uptrend for a bit.
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