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Crude Oil - April 15, 2021 - Reliance Securities

Posted On: 2021-04-15 08:06:48 (Time Zone: UTC)


Mr. Sriram Iyer, Senior Research Analyst at Reliance Securities

International oil prices are trading marginally lower early Thursday afternoon trade in Asia as investors digested the latest oil demand forecasts and inventory data.

Downside remained capped as the U.S. Dollar Index remained weak this Thursday afternoon trade in Asia.

Markets could look to cues from data due tonight.

Technically, WTI Crude Oil immediate resistance is at $63.40 and a break above could push prices up to $63.75. Immediate support now is at $62.75.

Domestic crude prices are trading marginally lower early Thursday afternoon trade, tracking overseas prices.

Technically, MCX Crude Oil April is trading above 4700 levels which could further push prices up to 4775 levels. Immediate support now is at 4676 and a break below could pull prices to 4580 levels.

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Source: Equity Bulls

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