Mr. Sriram Iyer, Senior Research Analyst at Reliance Securities
International oil prices were trading higher on Friday early afternoon trade in Asia.
However, markets continued to remain worried about as covid-19 cases in India.
Meanwhile, a key fuel pipeline in the United States resumed operations after being shut due to a cyber-attack and kept upside limited.
However, downside remained limited as the U.S. Dollar was trading lower this Friday early afternoon trade in Asia.
Traders were also watching the situation in the Middle East as geopolitical concerns between Israel and Palestine continued to escalate.
Technically, WTI crude resistances are at $64.05 and $64.50, and a sustained trade above could push prices to $65.00. Supports are at $63.85 and $63.10.
Domestic oil prices were trading higher on Friday early afternoon trade in Asia, tracking overseas prices.
Technically, MCX Crude May resistances are at 4706 and 4721 and a sustained trade above could push prices to 4745. Supports are at 4675 and 4645.
Disclaimer: The recommendations, if any, made herein are expression of views and/or opinions and should not be deemed or construed to be neither advice for the purpose of purchase or sale of any security, derivatives or any other security through RSL nor any solicitation or offering of any investment /trading opportunity on behalf of the issuer(s) of the respective security(ies) referred to herein. These information / opinions / views are not meant to serve as a professional investment guide for the readers. No action is solicited based upon the information provided herein. Recipients should rely on information/data arising out of their own investigations. Readers are advised to seek independent professional advice and arrive at an informed trading/investment decision before executing any trades or making any investments. While due care has been taken to ensure that the disclosures and opinions given are fair and reasonable, none of the directors, employees, affiliates or representatives of RSL shall be liable for any direct, indirect, special, incidental, consequential, punitive or exemplary damages, including lost profits arising in any way whatsoever from the information / opinions / views contained herein.