Energy Updates: Crude Oil tips

Taking cues from the overseas, crude oil is looking positive for day and near term as well. A good buying sentiments could be seen above 3850-3860 level which can lead prices towards 3900-3950. A strong negative trend may be seen below 3700. 

Trading Recommendation: Traders can buy Crude Oil September futures above 3860 for the targets of 3900-3950 Keeping SL below 3820.
below 3790 Go for sell for the target of 3740.

Read more »

MCX News- Crude Oil Likely to up

Crude future prices are likely to rise further on geopolitical tension and the situation in Middle East is worsening which could lift Crude prices upward and may touch 4415-4475 levels within next few trading days.

Support for Crude is seen at 4325 and below it; prices can test 4275 while the resistance levels are seen at 4425 and 4475 respectively. 14 days RSI for MCX Crude Mar contract is at 70 levels, which shows that Crude prices are entering in overbought zone and rising steadily.

Short term range for MCX Crude Mar contract is seen at 4150-4450. Positional traders can Buy MCX Crude Mar contract near 4340 keeping a stop loss of 4290 and can wait for the targets of 4400-4440.

Read more »