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Crude Oil - June 14, 2021 - Reliance Securities

Posted On: 2021-06-14 17:09:01 (Time Zone: UTC)


Mr. Sriram Iyer, Senior Research Analyst at Reliance Securities

International oil prices are trading higher on Monday early afternoon trade in Asia supported by improved outlook for global oil demand.

Chinese investors remained away from the markets today due to local holiday.

Investors will await triggers in the form of inventories and FOMC meeting this week.

Technically, WTI Crude Oil will continue its bullish momentum up to $71.60-$72.30 levels where support is at $70.30-$69.90 levels.

Domestic crude prices are trading higher on Monday early afternoon trade, tracking overseas prices.

On the domestic front, MCX Crude Oil June could trade on positive note where 5190-5150 holds a support and resistance is at 5249-5290 levels.

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