mcx crude oil future outlook for 9 to 13 may 2016

 

mcx crude oil future outlook for 9 to 13 may 2016

Mcx crude oil future this week closed with loss. This was first week loss for oil prices after last 3 weeks gains.

 

For next week, crude future outlook remain weak and correction might continue.

 

Currently crude oil prices are retracing towards support of 2820 and then it will take trend. Above 2820, crude future remain buy on dips for tgts 3320 and then 3625.

 

Weekly breakdown below 2820 means fresh downtrend and primary trend continuation. In that scenario crude oil prices tgts change to downside at 2520 and 2000.

 

 

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