Crude Oil traded near the highest price in a week in New York as investors bet that a U.S. economic recovery and Saudi Arabian crude output near the strongest level since at least 1980 signal fuel demand is increasing. Crude prices should hold to the important support at 5420 - 5410, we recommend to enter long around that levels with a stop loss below 5370. Oscillators indicating a sideways move.
Crude Oil Support and Resistance :-
Crude Oil (Apr) :- S3- 5370, S2- 5410, S1- 5440, R1- 5480, R2- 5530, R3- 5570
Intraday Crude Oil Tips Today :-
MCX Crude oil (April futures): Buy - 5430-5440, stoploss of Rs - 5400 and the target - 5490-5560