MCX Crude Oil June (CMP Rs 4602):
The price of Crude Oil has given a breakout to an ascending triangle pattern with an increase in average trading volume on its intraday charts during yesterday’s session. This price pattern is bullish formation that will lead to significant upside in prices over upcoming few sessions of trade. Thus traders can look to enter on dips to Rs 4584--Rs 4560 levels with a stop loss placed below Rs 4539 levels for the targets of Rs 4650/ Rs 4725 levels.
The price of Crude Oil has given a breakout to an ascending triangle pattern with an increase in average trading volume on its intraday charts during yesterday’s session. This price pattern is bullish formation that will lead to significant upside in prices over upcoming few sessions of trade. Thus traders can look to enter on dips to Rs 4584--Rs 4560 levels with a stop loss placed below Rs 4539 levels for the targets of Rs 4650/ Rs 4725 levels.
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