MCX CRUDE OIL WEEKLY REPORT 11th April to 15th April.

Posted by Bhupendra Adhav on Saturday, April 9, 2011

Market Overview

NYMEX Crude is in upward phase. Last week in Crude oil broke its level of 107 and made a close near to its week high. For the coming week 96$ will act as major support and 108.30 $ a barrel will be a major resistance. In MCX Crude Oil major resistance is found at 4875 and 4950 and major supports will be 4600 and 4500.


For the next week traders can use buy on lower level strategy, if NYMEX Crude sustains above the level of 100 $ a barrel then above 108.50 $ it can slightly come up and touch the level of 109.20 $ a barrel and in MCX above 4835 Crude oil can touch the level of 4900 if it sustains above 4700. Trade by keeping the proper stop loss. 

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