MCX Crude Oil closed at Rs 6139 per barrel, up 1.6%. The buying in Crude Oil for the second straight day is expected to bring some more rewards in the commodity. The bounce before Rs 5990 is also an indicator that this range will be respected in future as well before any further moves on the downside is noted. After the last night spike, Crude is likely to move towards Rs 6180 per barrel. The 100 day moving average set at Rs 6080 per barrel has been broken by Crude Oil yesterday. On RSI, the signs are for further strength in the index.
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Trading range as suggested by experts of epic research for crude oil for the day is 2849-2971. Traders can gain quick overview on stock market with the help of these posts.
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