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MCX Crude Oil may break Rs 5,000-mark; Natural Gas remains weak

The MCX Crude Oil futures seem on course to test the 200-WMA placed at Rs 5,000. However, given the indications from momentum oscillators, the commodity may break the support level.

Topics
Crude Oil Price | natural gas | commodity trading

Rex Cano  |  Mumbai 

oil
Photo: Bloomberg

The MCX Crude Oil futures have cracked heavily in recent trading sessions, and are now trading with a negative bias on multiple time-frames. The momentum too is clearly in favour of the bears, hence further losses seem likely.

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First Published: Tue, March 21 2023. 09:40 IST

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