MCX Crude Oil Updates- Crude oil is likely to fall further

On Friday the closing price of Crude Oil June contract was 4493 which was down by 8 points against its previous close of 4501. Today Crude oil opened at 4503 and traded flat making the same as its intraday High. And Finally Crude oil is trading in negative zone after making a day low of 4436. A drift lower is expected till 4410-20 levels. Support for Crude is seen near 4375 and below this level, prices can test 4300 while the resistance levels are seen at 4575 and 4650 respectively. In the near term, MCX May Crude prices are likely to trade in a range of 4150-4600.


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