MCX Crude Updates: Free Trading Tips

Prices are likely to trade higher levels and if Crude oil maintains its trade above 4000 mark, it may go up to 4050-4100 and even 4180 later. If the it doesn't happen, a choppy session may be seen with
slightly negative trend towards 3930.

Traders are advised to buy crude oil above 4000 for the targets of 4040-4080 Stoploss below 3972.

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MCX Crude Oil News Today- Crude Oil Likely to move up

MCX Crude oil March contract prices had closed at 4030 on Thursday marginally up by 3.00 rupees against previous close of 4027. MCX Crude oil March contract opened higher at 4045.00 this morning and last traded at 4056 up by 25.00 rupees.

Technically, MCX Crude March contract is trading in the range as RSI for 14 days is currently indicating 39.55, MCX Crude March contract is getting support at 3995 and below could see a test of 3960 level, And resistance is now likely to be seen at 4080, a move above could see prices testing 4135.

Going forward, short term traders can buy MCX Crude oil March contract near 4000 with stop loss of 3920 and can wait for the target of 4190 and 4145.

MCX Crude Feb contract trading range is 3960-4145.

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