mcx crude oil weekly Technical analysis for 28 dec to 1 jan 2016

mcx crrude oil weekly Technical analysis for 28 dec to 1 jan 2016
mcx crude oil future this week closed with gain at 2525.
mcx crudeoil weekly chart price trend is bearish but
momentum is on recovery side.
For medium term, mcx crude oil support zones are 2442 and 2300.
On upside expect strong resistance at 2586 and 2700 levels.
For next week , crude oil prices might continue to recover so
keep buy on dips view for mcx crude oil future with stop loss
below 2440 for target 2586 and 2700.
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Pramod Baviskar

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