Crude Oil prices to move lower towards 3090 levels: Choice

Choice Equity Broking report on Crude OilCrude OilMCX Crude Oil achieved our short term target as expected. MCX Crude Oil  has witnessed breakdown of its upward slanting trend line support at 3194  levels . On the other hand prices have been trading below its 100  HEMA on MCX Crude Oil  hourly chart . On NYMEX Crude counter has witnessed breakdown of its Rectangle Pattern at $ 46. 53 levels. Moreover, Momentum indicator  RSI is trading below 30 levels on hourly chart.OutlookFor now we expect prices to move lower towards 3090 levels in coming trading sessions.For all commodities report, click hereDisclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

Read More