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MTECHTIPS:- Technical Comment For The Day: Crude Oil

MTECHTIPS:- Technical Comment For The Day: Crude Oil

Crude oil improved only marginally on the trading session ending 4 August 2015. On MCX August contract ended at Rs 2935 per barrel on 3 August 2015 against Rs 2918 per barrel on 3 August 2015. Crude Oil showed decline in open interest. It is expected that prices moving below Rs 2900 now will bring more losses. On Tuesday, Crude Oil tested a high of Rs 2959 and a low of Rs 2918 per barrel. Open Interest was 21272 on 4 August 2015 against 24236 on 3 August 2015

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