Short term and intraday trend for MCX Crude Oil July contract is likely to be sideways. Support for a short term is at 3700 and resistance at 3950, Ravindra Kumar, research analyst at Stock Commodity Tips, said. Intraday support is seen at 3780 with resistance of 3880.
The number of U.S. oil drilling rigs, which is a proxy for activity in the oil industry, has fallen sharply since oil prices headed south last year. There are now about 61% fewer rigs working since a peak of 1,609 in October.
The number of U.S. oil drilling rigs, which is a proxy for activity in the oil industry, has fallen sharply since oil prices headed south last year. There are now about 61% fewer rigs working since a peak of 1,609 in October.
ReplyDeleteMCX<<<< SELL SILVER BELOW 37700 TG-37510-37110 SL-38030.
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