MCX Crude Oil Update
our research company mcx crude oil operator mumbai has report for international Crude oil is a different breed than that of precious metals discussed above and has been taking support from two-month old ascending trend-line, which in-turn signal brighter chances of its up-move towards 53.80 & 54.20 before confronting the 54.65-85 horizontal-line. Should energy buyers help the quote to surpass $54.85 on a daily closing basis, the $55.00 becomes a small barrier previous it could rise to $55.80 & $56.10 resistance-figures support. Meanwhile, aforementioned TL mark of $52.00 continues to become near research team very important level and support, breaking which 50-day SMA figure – support of $50.80 and the $50.00 psychological mark can comeback. Given sellers’ dominate prices below $50.00 and break $49.80 support, it becomes wise to expect $47.70-70 during further downside.