Crude Oil - March 5, 2021 - Reliance Securities

Mr. Sriram Iyer, Senior Research Analyst at Reliance Securities

International oil prices are trading with modest gains this Friday morning and early afternoon trade in Asia after OPEC and its allies agreed not to increase supply in April.

The gain even more notable is that it comes against a risk-off backdrop and a higher U.S. dollar this Friday.

Technically, if WTI Crude Oil continues to trade above $64.00 level we could witness prices move up to $65.20-65.50 levels. Support is at $63.06-$62.70 levels.

Domestic crude oil prices are trading with small gains this Friday morning and early afternoon trade, tracking overseas prices.

Technically, MCX Crude Oil will continue to trade on bullish momentum up to 4740-4794 levels. Support is at 4677-4620 levels.

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Source : Equity Bulls

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