MCX Crude Oil, Natural Gas: Key trading levels to watch out on April 13

MCX Crude Oil futures can test the 20-DMA in the near term placed at Rs 7,900-odd level.

Crude Oil
Bias: Positive
Target: Rs 7,900
Support: Rs 7,550

MCX Crude Oil futures have bounced back smartly after testing the lower-end of the Bollinger Band on the daily charts. Crude Oil prices are currently testing the resistance around the 50-DMA (Daily Moving Average) placed at Rs 7,630-odd levels, above which Crude Oil can spurt to Rs 7,900-odd levels - its 20-DMA.

In the short-term one can expect Crude Oil to gyrate between the broad range of Rs 7,000 to Rs 7,900, until a decisive trend emerges. 

The key momentum oscillators are mixed on the daily charts, with the MACD