Crude Oil MCX Tips Today : Almost Hit All Target, Enjoy Crude Oil High 4245, Crude Oil prices rose on Monday to their highest in just over a year, with Brent nudging past $60 a barrel, boosted by supply cuts among key producers and hopes for further U.S. economic stimulus measures that can boost demand.
Brent Oil advanced near $60 a barrel as global supplies tighten and the demand outlook improves with the rollout of Covid-19 vaccines.
MCX Crude Oil Tips – Hit Full Target, Paid Member’s Daily Mint Money. Oil hit an 11month high on Wednesday, boosted by a draw in U.S. crude and gasoline stocks, which fuelled demand recovery hopes as OPEC+ has forecast that the market will be in deficit in 2021.
- Crude Oil gained after major producers showed they were cutting crude output in line withtheir commitments on restraint.
- Russia’s January oil output up 120,000 bpd to 10.16 mln bpd.
- Tight oil-market in firsthalf could push crude to $65, says Goldman.
- WTI stays positive while flirting with February 2020 top.
- Overbought RSI conditions probe bullish chart formation around nearby resistance.
- 21-day SMA, channel support close adjacent doors for seller’s entry.
- Headlines from OPEC meeting will be the key to follow.
MCX Crude Oil Almost Hit Full Target 3553 to 3608 on fire. U.S. West Texas Intermediate and international-Benchmark Brent crude oil futures inched higher on its last day of trading before the Christmas holiday, helped by a surge in late-day buying in a well-below average volume session to finish out the week.