MCX Crude Oil gained 1.33% as of afternoon trade on Tuesday after the Euro strengthened against the dollar. MCX Crude oil October contract was trading at Rs 4180 after opening at Rs 4130, a gain of Rs 50.
While above 4150, we would see a brief rise towards 4200 initially, but if consistently trades above the same could look for 4250/4310 levels later. A direct fall below 4140 would delay the upside, calling for a re look into the possibilities of a bearish move. 4080/4020 would be the downside objectives once it crossed below the support of 4140.
Intraday Technical Levels
MCX Crude October: Rallies to Rs 4180/4220 could call for Rs 4080/4040 now.
S1 4070 S2 4020
R1 4180 R2 4240
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