MCX Crude Oil Updates- Trading Tips for Today

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.

Crude Oil Tips- MCX Updates

Crude oil is likely to remain bearish for the day and can see some more sell offs if trades below 41180 levels. A Successful trade above 4245 may negate the bearish trend and Crude can lift up to 4280-4320 levels.

For Intraday Sell crude below 4200 for target of 4150 and 4120 with stop loss of 4244

Crude Oil Updates for Today

The downside support for Crude oil is seen near 4400-4380 and above this level Crude crude can still be bound in hope to remain under 4440-4500 region.

Above 4530 some upward rallies could be seen but a drift lower towards 4280-4200 can be seen if Crude oil breaches the level of 4370.