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Crude Oil
Crude Oil

Crude oil breaking out of a Channel

Crude oil on the MCX is breaking out of a falling channel today.

Daily RSI is also breaking out of a 5-month trend line, indicating strengthening momentum.

If it closes above the channel resistance of 3000, we could seen oil... (More)

Crude oil testing critical support

MCX Crude oil is hovering right at the support line of a Rising Wedge pattern as well as at the 200-day SMA. Given the confluence of two key supports near 2830, sustainability below this level could trigger a short term... (More)

Crude Oil prices - What to monitor ?

What drives crude oil prices?

  • Crude oil prices react to a variety of geopolitical and economic events
  • World oil prices move together due to arbitrage
  • Crude oil prices are the primary driver of petroleum product prices
  • Economic growth has a... (More)

MCX Crude - Minor bounce possible, but weakness likely to persist

After breaking below the rising wedge price pattern, MCX crude oil has steadily headed lower. Based on the minimum price objective criteria of the wedge pattern, we can expect further weakness in oil prices going forward. The immediate support for... (More)