MTECHTIPS MCX CRUDEOIL INTRADAY trading analysis 29-06-2016
DAILY:- Mcx energy segment also seeing strong buying. Both crude oil benchmarks had climbed on Tuesday after financial markets shook off some of the shock of last week’s referendum in Britain. Crude oil future reversed after one day deep correction and covered all the losses. Watch 3270 level for another bullish breakout.
WEEKLY :- Mcx crude oil weekly closing was flat but which is very bearish signal on weekly chart. On downside chart is showing support zones at 3115 and then 2870 while on upside 3280 and 3440 are strong resistance zones. In medium term view look like crude oil is topped out.