moneymarine

MCS Crude Oil Technical Analysis

Short
MCX:CRUDEOIL1!   CRUDE OIL FUTURES
At present Crude Oil on MCX is trading around 6210 with a day low of ₹ 6197 and made a high of ₹ 6244. Crude oil remained under pressure this week globally.

If we talk on technical side, Crude Oil was running in a fixed channel since Septmber 2021, but on October 27th 2021, it closed below support line and yesterday on 28th Oct, it opened at 6180 with a gap opening of almost 200 points down from its previous day's high.

OPPORTUNITY

You can short crude oil around 6240 today with a stop loss of ₹ 6336 for a taget of ₹ 6065-5990.