Commodity Crude Updates: Evening Trading Strategy

Crude oil prices managed to recover today and now heading towards 4000 mark. If crude Oil moves above 4030 level it may further extend its rally towards 4055-4100 but before this, an uncertainty is expected due to weak global cues and increasing strength of dollar prices. A dip towards 3800-3750 may be occurred during evening trades before the actual rally would take place. But a trades below 3700 may invite more downfall. Traders are advised to Buy crude above 4030 for the targets of 4055-4100. On the downside one may go for fresh buying around 3790.

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MCX Tips Today- Crude Oil Updates

Crude Oil is likely to trade with negative bias below 4200 level and an unsuccessful attempt to close above the save will lead crude to fall down to 4170-4100 but a trade above 4245 will bring back the bullish momentum and crude may touch 4300-4320 level.
For Intraday one might sell crude oil below 4190 for the targets 4170-4155-4135 stoploss above 4220
Buy above 4130 For the targets -4145-4175

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