Bias for MCX Crude Oil remains negative; 200-DMA is the key support

Meanwhile, the Natural Gas futures soared nearly 79 per cent in the last 15 trading sessions to a new high of Rs 760; the commodity could witness some profit-taking now.

The MCX Crude Oil futures continued to trade with a negative bias even as Natural Gas futures galloped to a record high of Rs 760 in a jiffy. Going ahead, the 200-DMA is the key support for Cured Oil futures, while Natural Gas futures may witness some profit-taking.

Crude Oil

Bias: Negative

Last close: Rs 7,664

Resistance: Rs 7,835, Rs 7,960

Support: Rs 7,480, Rs 7,240

The MCX Crude Oil futures continued to trade with a negative bias albeit in a narrow trading band. On the positive front, Crude Oil futures managed to sustain above the 200-DMA (Daily Moving Average) placed at Rs 7,240; this level