Crude Oil - Nov 27, 2020 - Mr. Tapan Patel - Senior Analyst (Commodities), HDFC Securities

Crude oil prices traded lower on Friday as benchmark NYMEX WTI crude oil traded below $45 per barrel. MCX Crude oil December futures were trading down to Rs. 3310 by noon.

Crude oil Crude oil prices traded down ahead of OPEC plus meeting. The holiday mood kept traders and investors away keeping prices in range. Crude oil prices declined on with disagreement in the OPEC over continuing supply cuts.

We expect crude oil prices to trade sideways to down with support at $44 and resistance at $45.50. MCX Crude oil December has support at Rs.3250, resistance at Rs.3360.

Source : Equity Bulls

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