Crude oil Trend for today is being
expected to trade on lower side. In whole Asia the crude oil is
trending lower. Since the crude oil pipelines has been opened by UAE
& Saudi Arabia. Crude oil in the last week at MCX closed at 4790
after a solid sharp decline.Overseas global market is expected to
trade in the rebound on Monday.
MCX Crude oil will be in a consolidation zone. Not much upside is seen here. You will get an opportunity to exit around Rs. 4772.45.
Strengthened Rupee against the dollar and strengthening gold and silver are pressurizing the mcx crude oil to go down. Currently the crude oil is trading at 4775 with a down of 0.35% from it's previuos close in the domestic market.
Trading Strategy For MCX Crude oil & Copper today:-
MCX Copper (August futures): Sell - 424, stoploss of Rs - 429 Target - 419
MCX Crude oil (April futures): Sell - 4839, Stoploss of Rs - 4879 and the target - 4755
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