The daily price chart of MCX Crude Oil is showing strong weakness as it has fallen after testing the strong resistance range of 4250-4350 levels. The long term trend is down. The daily RSI is showing weakness. We expect prices to resume their southward rally for initial targets of 4000 levels in the short term. We recommend sell below 4115 levels with a stop loss placed above 4180 levels for targets of 4000 levels.
Resistance : 4,160 || 4,220
Support : 4,120 || 4,070
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