India, Jan. 20 -- Technically Crude Oil market is under fresh buying as market has witnessed gain in open interest by 276. 69% to settled at 1228 while prices up 54 rupees.
Now MCX Crude Oil is getting support at 3847 and below same could see a test of 3806 levels and resistance is now likely to be seen at 3918 a move above could see prices testing 3948.
Crude Oil yesterday settled up by 1.41% at 3888 as optimism that government stimulus will buoy global economic growth and oil demand trumped concerns that renewed COVID-19 pandemic lockdowns globally could cool fuel consumption.
Oil prices have also been supported by Saudi Arabia's additional supply cuts in the next two months which are expected to draw down global inventories by 1.1 mil...