Weekly Crude Oil Report :- NYMEX Crude is in consolidation phase. Last week Crude Oil was not able to sustain neither on higher levels nor at lower levels. For the coming week 70$ and 75 $ will act as major supports and 95$ and 101.50$ a barrel will be a major resistance in NYMEX Crude. In MCX Crude Oil major resistance is found at 4300 and 4420 and major supports will be 3750 and 3550.
MCX Crude Oil For the next week traders can use buy on lower level strategy, if NYMEX Crude sustains above the level of 85.5 $ a barrel then above the level of 90.52 $ a barrel it can test the level of 91.5$/92.5$ a barrel and in MCX if Crude sustains above 4100 then above 4250 it can test the level of 4320/4360/4390 in this week. Trade by keeping the proper stop loss
