Despite Concern of declining supply, Crude oil in the last 4 days has lost nearly 9 per cent. Technically prices are still hovering to to touch 4080-4040 in downside but further sharp fall can be seen only below 4020. Inability to float below 4020 would negate our negative view and corrective pullback can be seen till 4200-4270 later. The near term trend is seems to be bearish which could be negate if prcies close above 4300 with good volume.
For Intraday Sell Crude Oil (June) below 4125 for the targets of 4180-4170 Stoploss- 4155
above 4160 go for buy in Crude oil.
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