Crude oil technical analysis chart and trading tips updated on 18th January 2017 Wednesday
MCX CRUDE OIL - 1 BBL
MCX Crude oil moving up from support and so far holding up only.
Technical indicates further price rise expecting in coming days.
If moves up further then it will find resistance @ 3780 its recent top as shown in above technical chart.
News - In US oil price is moving up due to struggling US dollar and also on news by Saudi Arabia that it would cut output ahead of OPEC`s.
The US dollar also trading on six weeks low against major currencies.
Moreover Russia oil production is expected to reach another post-Soviet high in year 2017.