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HinduBusinessLine

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Crude Check: Oil prices might cool

  • Brent crude oil futures reached an intra-week high of $70.71 but face resistance at $71; breakout needed for positive outlook.
  • A breach of $71 could lead to a rally towards $75 and then $80, with support at $66 in case of decline.
  • Crude oil futures opened at ₹5,580 on Monday, rallying to ₹5,914 but facing resistance at ₹5,900; support at ₹5,500.
  • Expectation for the contract to trade between ₹5,500 and ₹6,000 before a clear trend is established; resistance at ₹6,500 and support at ₹5,150.

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