Crude Oil Updates

Oil traded near the highest price in almost eight months. Yesterday, Nymex Crude  Oil prices increased by above 4% and on MCX, Crude Oil prices rose by near about 2.1%. Today, Crude Oil prices are likely to trade positive. Traders are advised to buy Crude Oil around 5409 – 5389 with a strict stop loss placed at 5349.

Crude (Jan): Trend - Sideways
Resistance 5469 - 5519, Support 5379 - 5309
Strategy - Sell on higher Levels.

Crude Oil Updates

Today, Crude Oil prices are expected to trade higher taking cues from supply disruptions in Syria and Iran’s naval exercises in a key shipping lane. Additionally, a weaker dollar will also provide further support. as Crude prices are looking positive, traders are advised to buy Crude Oil around 5261 with a stop loss below 5211 for the target of 5321 - 5336.
Crude Oil (Jan): Support 5201 - 5261, Resistance 5301 - 5366.