Crude support @ 3000, resistance @ 3101, 3146

 Today we are trading in new contract, which has premium of nearly 60 rupees. But with the helpthis 60 rupees premimum, crude price failed to show any positive breakout. Now the resistance is placed @ 3100 around foloowed by 3146. With this resistance levels in mind, one can enter in short positions using any upward movement. Today is inventory day. I am with the view that inventory will come negative for price. There is simple reason behind this view. In 1 week time span, no producer can increase or decrease the production suddenly. Nothing to write more about it, everything is posted in last post on crude. Wish you happy trading , thank you. Keep visiting.