Shalvisharma5

#Crudeoil Update Mar 5 | Intraday MCX

Short
MCX:CRUDEOIL1!   Crude Oil Futures

🔸Timeframe: 1 hour
🔸Bearish below 6485, bullish above 6515
🔸Anticipating a bounce from 6413 support; sustained bearish momentum may lead to further downside levels.

🔸WTI crude drops to $78.5/barrel for a second day.
🔸Demand concerns outweigh OPEC+ supply cuts' impact.
🔸China's 5% economic growth target and voluntary cuts influence market sentime

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.