Crude oil is likely to dragg down as invetors are concerned about a slowdown in the US and other major economies of the world along with the expectations that top exporter of crude oil Saudi would increase its output which will result in lowering the crude oil prices.
Crucial Level for Downside in crude oil is Seen near 4222 below which a strong selling pressure taregtting 4080-4000 may triggerout.
Bulishness is expected if crude oil closes above 4300.
For Intraday Traders can sell crude oil June futures below 4230 for the targets of 4200-4160 Stoploss above 4280
Above 4300 go for long positions.
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