Crude oil futures closed lower in the domestic market on Friday as investors and speculators exited positions in the energy commodity due to a surprise drop in US crude inventories.
The Energy Information Administration reported a whopping 14.5 million-barrel drop in US crude stocks for the week ended on 2nd September.
Previous day session the crude oil has given short signal @ 3140 and today it is open with gap down . Now it has mark new low. You can observe further target as per fibonacci level given in chart.
Running profit ++110 point as per system
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Parag Patil is a technical analyst and trading system designer with stock excel programmer. I hope the articles and live chart of nse future and mcx on this Website will be as helpful and profitable to you . I try to update and post new articles tips everyday. My motto is to encourage the traders, so that they should able to understand the technique views behind the moment of stocks. I have deeply analyzed with many technical indicator with parameter and added to my amibroker afl. And even taken backtest report which is never being implemented. Any of the analyst expect me. Seeing all this you may understand that my views is more technical than commercial. If you are profited by my views I fill happy.
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