Crude Oil Futures Technical Analysis with Targets

Crude Oil Futures (MCX) Technical Analysis – Key Levels and Price Outlook
(November 2025 Update)

- Crude oil prices have shown some recovery this week after a continuous downtrend seen in October.
- The market is now trying to build a base above ₹5,100 and looks ready for a possible short-term bounce if bulls manage to sustain above support levels. Let’s break down the current chart structure, support, resistance, and targets in detail.

1. Current Market Overview

Crude Oil Futures on MCX are trading around **₹5,460–₹5,500**. After a sharp correction from ₹6,500 levels, prices finally took support near **₹5,100**, which acted as a major base. Since then, the price has started forming higher lows, showing that buyers are slowly returning to the market.

However, the price is still below the key resistance zone, which means bulls need a confirmed breakout before a strong rally begins.


2. Important Support Levels

🟢 Major Support – ₹5,100 to ₹5,144

This zone has become the strongest base for crude oil. The market took multiple rejections from this level before bouncing back. As long as crude stays above ₹5,100, the overall structure remains positive for a possible up-move.

🟢Latest Support – ₹5,485 to ₹5,515

This is the immediate support zone just below the current price. If crude oil manages to hold above this range, it could confirm short-term bullish strength. A close below this support might again push prices toward ₹5,100.

3. Key Resistance Levels

🔴 Resistance Zone – ₹5,980 to ₹6,021

This is the first major resistance zone to watch. If prices move above ₹5,700 (first breakout level) and sustain, crude could attempt to test ₹6,000. Historically, sellers have been active near this area, so it will be a tough barrier for bulls.

🔴 Major Resistance – ₹6,520 to ₹6,580

This is the long-term resistance zone. If crude oil manages to break above ₹6,600 decisively, it will mark the beginning of a strong bullish phase. Such a move could open the way toward ₹7,000 or higher in the coming months.


4. Short-Term Price Targets

🎯 First Target After Breakout: ₹5,700
Once crude oil breaks above ₹5,515 with good volume, the first upside target will be around ₹5,700.
🎯 Second Target: ₹6,000
Sustained momentum above ₹5,700 could push prices toward ₹6,000.
🎯 Major Target (Long-Term): ₹6,520–₹6,580
If the market breaks ₹6,000 convincingly, bulls may aim for this long-term resistance zone.


5. Market View and Strategy

Short-Term View:
Neutral to slightly bullish as long as the price stays above ₹5,485.
Medium-Term View:
A clear breakout above ₹5,700 can trigger a move toward ₹6,000 and ₹6,500 levels.

Risk Zone:
A close below ₹5,100 will turn the sentiment negative, possibly retesting the ₹4,430 level (previous low).


6. Conclusion

Crude oil is showing early signs of recovery, but it still needs confirmation through a breakout above ₹5,700. Holding above ₹5,485 support will be crucial in the short term.
For swing traders, the best strategy could be to buy on dips near ₹5,200–₹5,300 with a stop loss below ₹5,100 and targets at ₹5,700 and ₹6,000.

Overall, the trend remains cautiously bullish, but traders should wait for a confirmed breakout before making aggressive entries.