mcx crude oil intraday trend analysis 18 sep 2015


Mcx crude oil Sep expiry future is trading at 3088 with loss. Today crude hit high around 3092 and low was at 3082. Trading in between with 5941 contracts volume. For intraday crude oil, future might give correction of previous rally. On upside 3140 and 3175 are strong resistances as well as short entry zone with stop loss. On downside, 3000 and 2930 are support zones as well as target zones for corrective move.
On daily chart, crude prices are in bullish trend but correction is due and might happen for 1-2 trading session and then next move will happen. 3030 is major pivot support level and above it on closing basis, positional view for crude oil future will remain bullish.

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