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With MCX Crude Oil below Rs 7,050, bears likely to reign; charts suggest

The MCX Crude Oil October futures may see a directional move on breakout from the Rs 6,550-6,900 trading range so far this week. Short-term trend for Natural Gas futures may soon turn negative.

Topics
Crude Oil Price | Natural gas price | commodity trading

Rex Cano  |  Mumbai 



oil
Photo: Bloomberg

A breakout from the Rs 6,550 - Rs 6,900 range, is likely to set the direction for the MCX Crude Oil futures this week. Whereas, in case of Natural Gas prices, charts indicate that conditions are turning more favourable towards the bears. That apart, the rate decision on Wednesday night could have a major impact on the trend.

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First Published: Wed, September 21 2022. 09:40 IST

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