MTECHTIPS MCX CRUDEOIL INTRADAY trading analysis 03-06-2016
DAILY :- mcx crude oil major support zone is 3250-3280 if slips below it then expect sharp fall.
WEEKLY :-Mcx crude oil future this week closed with gain. This was third positive week for oil prices.Mcx crude oil weekly chart price trend and momentum both are bullish. Above 3170 crude will remain bullish and buy on dips. On upside 3400 and 3485 are strong resistance zones as well as targets for next week. On downside 3210 and 3170 are support levels as well as fresh long entry zones. Mcx crude oil monthly chart suggesting this move target around 3550 to 3625.