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Commodities
Crude Oil - April 26, 2021 - Reliance Securities
Posted On : 2021-04-26 18:28:42( TIMEZONE : IST )
Mr. Sriram Iyer, Senior Research Analyst at Reliance Securities
International oil prices fell this early Monday afternoon trade in Asia on fears that surging COVID-19 cases in India could drive down fuel demand in the world's third biggest oil importer.
Meanwhile, OPEC and its allies will meet this week with major changes to policy unlikely.
Apart from the meeting markets will also await inventories this week.
Technically, WTI Crude Oil could see sideways to marginal downside momentum up to $61.00-$60.70 level. Resistance is at $61.80-$62.30 levels.
Domestic crude prices are trading lower this early Monday afternoon trade, tracking overseas prices.
Technically, MCX Crude Oil May could see a support near 4600-4560 levels and resistance is at 4635-4688 levels.
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