MCX Crude Technical Comment For 06 Feb 2015

Crude Oil resumed gains after marginal selling pressure seen on Wednesday. The prices settled at Rs 3187 per barrel against Rs 3064 per barrel a day before. Crude Oil tested a high of Rs 3223 and a low of Rs 2945 per barrel. The gains above Rs 3300 per barrel is the immediate resistance zone. Decline towards Rs 2950 will act as supports in Crude Oil. Volumes were at 302413 lots on 5 Feb 2015 against 239488 lots on 4 Feb 2015. Resistances for the contract that can come in handy in coming days are at Rs 3250, and Rs 3350 per barrel
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