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MCX Crude Oil remains range-bound; bias can turn positive above Rs 6,465

On the flip side, in case, Crude Oil futures break the support at the lower-end the commodity could dip below the Rs 6,000 mark.

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Rex Cano Mumbai
So far this week, the MCX Crude Oil futures have struggled to cross and sustain above the short-term moving averages at Rs 6,420; hence it seems likely that the commodity could test the lower-end of the trading range going ahead.

Crude Oil
Bias: Range-bound
Last close: Rs 6,390
Indicative Range: Rs 6,100 - Rs 6,700
Support: Rs 6,260; Rs 6,150
Resistance: Rs 6,420; Rs 6,465

The MCX Crude Oil futures continue to remain trapped in the range of Rs 6,100 to Rs 6,700, with the commodity currently seen struggling to hold its neck above the short-term moving averages.

The short-term moving averages both the 20-DMA

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First Published: Feb 22 2023 | 9:40 AM IST

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