AHMEDABAD (Commodity Online): Crude Oil March moved up 0.40% in MCX. Crude Oil opened at 3739and made a low of 3736 and day’s high of 3762.Total volume for the day is 20696 lots and open interest is around 17201. Support for Crude Oil is at 3760. Resistance level is at 3850.
Crude Oil prices are continually increased from 3585 to 3762 in 15 days. 14 days RSI for Crude Oil is at 54 and it is increasing continuously since last 6 days due to buying pressure.
“Technically, one can long Crude Oil at 3700 with a stop loss of 3650 for target of 3780,” said Hardik Shah, Sr. Commodity Analyst with Commodity Online.
“Fundamentally, Crude Oil is very strong. One can enter into a long position at 3650 levels for long term,” said Shah.
