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Will MCX Crude oil Come Back to 5500?

Posted: 09 Aug 2021 02:49 AM PDT

Crude oil has broken March 2020 support trendline today. That is indicating a direct sell signal. If crude crossover & closes above to 5160 levels, then it can come out from the downtrend. And we may see 5300 – 5500 again.

According to the current breakout, MCX crude oil may hit the following levels: 4800 – 4760 – 4660 – 4590

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