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MTECHTIPS:-Technical Comment For The Day: Crude Oil

MTECHTIPS:-Technical Comment For The Day: Crude Oil

After the losses in last one week, prices of Crude Oil moved up slightly for the second day in a row. Crude oil was just close to Rs 2800 on the trading session ending 27 August 2015. On MCX September contract ended at Rs 2789 per barrel on 27 August 2015 against Rs 2610 per barrel on 26 August 2015. Open interest lost during session ending Thursday. Prices are now moving in range of Rs 2600 and 2800 per barrel in medium term. On Thursday, Crude Oil tested a high of Rs 2817 and a low of Rs 2624 per barrel. Open interest of Crude Oil was at 28462 on 27 Aug against 39369 a day before.

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