mcx crude oil future weekly technical analysis for 7 to 11 march 2016
Mcx crude oil future this week closed with gain at 2409. This was third gaining week for crude oil prices. In these 3 weeks period crude rallied from low of 1970 to high above 2400.future clearly in strong recovery rally. On upside 2540 is my first target and 2760 will be next one if sustain above 2540. On downside 2170 is major support now and will remain fresh buying opportunity level. Short term Trend will reverse only below 2170 so traders must follow buy on major correction strategy for targets 2540 and above.