A slide to 3960- 4010 is also a possibility if the price makes or break above the current resistance level- Enrich Commodities
Crude Oil
Technical outlook
MCX Crude Oil technical chart has taken the formation of "Falling channel" pattern in 2hr 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 bearish trend, once the same break below a key support level holding near 3850. The downside rally could be testing all the way up to 3790-3740 levels in the upcoming sessions. An alternative scenario indicates that if the market struggles to break the support level, then it might retest the same and revise the trend to bullish/sideways mode once again. Key resistance holds near 3900. A slide to 3960- 4010 is also a possibility if the price makes or break above the current resistance 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 Disclaime
