NYMEX crude jan CMP 36.30

NYMEX crude jan CMP 36.30):  From  the  above  daily  chart  of  Nymex Crude,  we can see  prices  took the  support  of (T1)  trend line  at  34.53 levels  and bounced sharply.  In  MACD  indicator  we can  see  a positive divergence  where it  has made  higher  lows  and  prices made  lower  lows  in  the  same period of time, which signals  a  short  term  bounce  in  prices.  The  higher  end of  the  falling channel  is  around  43/44$ levels,  which  will act as  strong  resistance  for  the  short  to medium  term.    Meanwhile  prices  still  remained below  the  21 (EMA), which comes  around 39.60  and when it  comes  to  MACD  the  moving averages  are still below  the  zero  line  suggesting bearishness.  Only  a cross  above  the  zero line  would  indicate bullishness in prices.  Favored  view  NYMEX  Crude  Jan:  From  the  above  analysis  we  suggest  buying  around 36.30/35.60  $ range  for  the  targets  of  40.50 and 43.50  $, with a  stop loss  of  32.30  on  a  daily  closing basis.  Only a  break above 43/44 $ levels we could see the rally to continue towards the levels of 48 and 50 $. Daily  Report  –  Equity In  MCX  Crude  Jan  (CMP  2500), we  suggest  buying around  2500 followed by on  dips  to 2470 and  please follow stop loss  according to NYMEX level given above and for the targets also follow NYMEX.