MCX Crude June contract closed on Thursday at 4501 rupees per barrel, down by 11 rupees against previous close of 4512. The contract opened up this morning at 4512 made an intraday high at 4516 and and last traded at 4430 down by 71 rupees after touching an intraday low of 4414 rupees.
In international markets, Crude prices last traded near 98.5 USD per barrel. Crude prices seen falling further because of weak global demand and may test 96-93 levels in the near future.
On MCX, Indian commodity exchange, Crude prices are likely to touch levels of 4340-4220 in the coming few days.
Support for Crude is seen at 4375 and below it; prices can test 4300 while the resistance levels are seen at 4500 and 4575 respectively. In the near term, MCX May Crude prices are likely to trade in a range of 4150-4600.
In international markets, Crude prices last traded near 98.5 USD per barrel. Crude prices seen falling further because of weak global demand and may test 96-93 levels in the near future.
On MCX, Indian commodity exchange, Crude prices are likely to touch levels of 4340-4220 in the coming few days.
Support for Crude is seen at 4375 and below it; prices can test 4300 while the resistance levels are seen at 4500 and 4575 respectively. In the near term, MCX May Crude prices are likely to trade in a range of 4150-4600.
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