Weekly Commodity Mcx CRUDEOIL Trend 22 to 27 July 2013
MCX CRUDEOIL Technical Trend
Crude oil showed upward movement on daily charts, broke pennant pattern and also gave closing above it. Now, if it is able to sustain above 6500 then it may find resistance around 6700. On lower side correction is expected only if it holds below 6250 where 6150 will act as major support.
Better strategy in MCX CRUDEOIL is to buy on dips for the targets of 6600-6700 with stop loss of 6150.
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