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Technical Report For The Day: MCX Crude Oil

mcx-crude-oilMCX Crude Oil: Technical Report

Crude oil again moved backwards in the day trades on Tuesday. The prices went to test a low of Rs 4622 per barrel and ended at Rs 4641 per barrel. The prices have again moved below the psychological support of Rs 4700 per barrel. This also becomes the resistance zone for the prices of Crude Oil. Further losses from current levels can take the prices of Crude oil to Rs 4600 per barrel. The fall came with enormous amount of increase in Volumes to 120979 against 93976. Open interest was 17031 against 13559 on 24 November 2014.

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