MCX Crude Oil looking good with a stop loss of 161.8% fibonacci retracement, chart updated on 11th May 2015, Monday.

MCX CRUDE OIL - 1 BBL

MCX Crude oil is trading above 161.8% fibonacci retracement, technical indicates crude oil is looking good as long as it hold above, so one can use stop loss keeping 161.8% fibonacci retracement.

Oil will show weak signals once it closes and holds below its support zone. Even its major trend indicator "MACD" is moving in positive zone this will favor bulls. Close Watch.

Suggested article - Importance of stop loss and what is stop loss in trading.