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Commodities
Crude Oil - June 7, 2021 - Reliance Securities
Posted On : 2021-06-07 22:38:03( TIMEZONE : IST )
Mr. Sriram Iyer, Senior Research Analyst at Reliance Securities
International oil prices are trading in the red on Monday afternoon trade in Asia giving up some of the gains made last week as investors awaited the outcome of this week's talks between Iran and world powers over a nuclear deal.
Some profit booking and weak Chinese crude oil imports data for the month of May also pulled prices lower this Monday afternoon trade in Asia.
Technically, WTI Crude Oil will continue its bullish momentum up to $69.70-$80.10 levels. Support is at $69.05-$68.85 levels.
Domestic oil prices are trading in the red on Monday afternoon trade, tracking overseas prices and weak demand.
Technically, MCX Crude Oil June has given a breakout above 5000 levels where further could see 5068-5097 levels. Support is at 5020-5000 levels.
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