A slide to 5300 is also a possibility if the price makes or break below the current support level - Enrich Financial Solution
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
CRUDEOIL
Technical outlook
MCX Crude Oil technical chart has taken the formation of "Ascending broadening wedge" pattern in daily time frame. Previously few sessions ended up in sideways mode along with some corrections inside the channel. As per the technical aspects based on the current price action, the market is expected to continue on bullish trend, once the same break above the current key resistance level holding near 5460.
The upside rally could be testing all the way up to 5520-5570 levels in the upcoming sessions. An alternative scenario indicates that if the market struggles to break the resistance level, then it might retest the same and revise the trend to bearish/sideways mode once again. Key support holds near 5350. A slide to 5300 is also a possibility if the price makes or break below the current support level.
Technical Chart
To Read Complete Report & Disclaimer Click Here
Please refer disclaimer at https://enrichbroking.in/disclaimer
SEBI Registration number is INZ000078632
Views express by all participants are for information & academic purpose only. Kindly read disclaimer before referring below views. Click Here For Disclaimer
