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MTECHTIPS:-Technical Comment for the Day: Crude Oil

MTECHTIPS:-Technical Comment for the Day: Crude Oil

Crude oil moved above Rs 2750 on the trading session ending 20 August 2015. On MCX September contract ended at Rs 2754 per barrel on 20 August 2015 against Rs 2710 per barrel on 19 August 2015. Open interest shrinked a little bit on the session ending Thursday. It is expected that prices will now move towards Rs 2800 per barrel in short term. On Thursday, Crude Oil tested a high of Rs 2762 and a low of Rs 2679 per barrel. Open interest of Crude Oil was at 32735 on 20 Aug against 36331 a day before.
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