MTECHTIPS:-CRUDE OIL
Crude oil witnessed some selling at higher levels yesterday, as the commodity failed to hold above the 5400 levels. Crude oil has support at lower levels around 5300 any sustained dip below these levels will open up the levels of 5240 levels. Crude oil will face strong intraday resistance above 5380 levels. Any move in the Crude oil above these levels will open up 5420 levels. The commodity is in a uptrend and consolidation at current levels will be positive sign and we may soon test 5500 levels.
Crude oil witnessed some selling at higher levels yesterday, as the commodity failed to hold above the 5400 levels. Crude oil has support at lower levels around 5300 any sustained dip below these levels will open up the levels of 5240 levels. Crude oil will face strong intraday resistance above 5380 levels. Any move in the Crude oil above these levels will open up 5420 levels. The commodity is in a uptrend and consolidation at current levels will be positive sign and we may soon test 5500 levels.
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