Crude Oil declined sharply on Monday eradicating most of the losses cumulated in the last week. The prices closed at Rs 3140 per barrel, down 3.86%. The prices topped at Rs 3265 per barrel before settling at Rs 3140 per barrel. The session on Tuesday is not expected to gain further. Crude can again be in a bearish zone. Further losses can take the prices towards Rs 3000 and Rs 2950 per barrel. On the higher side Rs 3250 is the cap for Crude Oil. Technicals for Crude Oil on a daily basis suggest continuation of bearish zone that can take it below Rs 3000 if reversal does not happen.
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