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MTECHTIPS:-Technical Comment For The Day: Crude Oil.

MTECHTIPS:-Technical Comment For The Day: Crude Oil.

Crude oil moved below Rs 2650 on the trading session ending 24 August 2015. On MCX September contract ended at Rs 2639 per barrel on 24 August 2015 against Rs 2684 per barrel on 21 August 2015. Open interest lost during session ending Monday. It is expected that prices can now move in range of Rs 2600 and 2780 per barrel in medium term. On Monday, Crude Oil tested a high of Rs 2672 and a low of Rs 2577 per barrel. Open interest of Crude Oil was at 34639 on 24 Aug against 37424 a day before.
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