CRUDE OIL DAILY REPORT 08-04-2019

CRUDE OIL MCX 1 HR CHART

CRUDE OIL NYMEX 1 HR CHART



Crude oil in on upward journey,everything is supportive for crude oil as of now. Opec supply is at lowest in 4 years as reported by S & P Global Platts survey.

Last week inventory data came little negative for crude oil but that couldn’t hold bulls to take prices up.As we reported in our last report ,

price is now approaching 4350-4400 zone and as the trend suggest we may soon witness 4450-4480 zone to be tested.

Let’s do little technical analysis

Technically crude has successfully sustained above major resistance zone of 4250 in mcx and 62-62.50$ in nymex. Any correction is opportunity for buyers and 4250-4300 zone is now base in mcx and 62.50$ in nymex.

Upper side major resistance zone is 64.20-50$ in nymex and 4450-80 in mcx.

Trend is bullish and buy in deep should be a good strategy but a correction may come in coming session.

One thought on “CRUDE OIL DAILY REPORT 08-04-2019

  1. Pawa n says:

    Bhai 15 20 companio me paise le liye or sabne kahi ka choda, darr sa lagan laag gaya ab to MCX se, sab paise lewe hai nikal lewe hai, bhai 2 4 mahine k liye na hamesha k liye

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