 "crude oil")
Crude Oil
Bias: Positive
Target: Rs 7,900
Support: Rs 7,550
Bias: Positive
Target: Rs 7,900
Support: Rs 7,550
MCX Crude Oil futures have bounced back smartly after testing the lower-end of the Bollinger Band on the daily charts. Crude Oil prices are currently testing the resistance around the 50-DMA (Daily Moving Average) placed at Rs 7,630-odd levels, above which Crude Oil can spurt to Rs 7,900-odd levels - its 20-DMA.
In the short-term one can expect Crude Oil to gyrate between the broad range of Rs 7,000 to Rs 7,900, until a decisive trend emerges.
The key momentum oscillators are mixed on the daily charts, with the MACD
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