MCX Crude Oil August contract is trading below the short and medium term moving averages suggesting bearish trend in the market. A long black candle stick witnessed yesterday is signaling continuation of bullish mode for the coming session also.
The momentum indicator RSI (14) is treading near to over sold zone and therefore the downside pressure may be limited. We recommend selling for the day.
The momentum indicator RSI (14) is treading near to over sold zone and therefore the downside pressure may be limited. We recommend selling for the day.
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