Mcx crude oil technical analysis for 16 November 2016
Mcx crude oil closed at 3083. Mcx crude oil future given strong reversal after taking support at 2900 and achieved its upside target of 3075.
Above 3075, next major swing target will be 3270.this is strong reversal rally and crude oil given breakout above 3075. From here keep buy on dips view and expect targets 3180 and 3270.
Above 3270, mcx crude oil price trend will be strong bullish till then it will be just recovery phase.