India, Sept. 24 -- Technically Crude Oil market is under short covering as market has witnessed drop in open interest by 9. 5% to settled at 1295 while prices up 27 rupees.
Now MCX Crude Oil is getting support at 2892 and below same could see a test of 2838 levels and resistance is now likely to be seen at 3002 a move above could see prices testing 3058.
Crude Oil yesterday settled up by 0.92% at 2947 supported by U.S. government data that showed crude and fuel inventories dropped last week although concerns about the ongoing coronavirus pandemic capped gains.
U.S. crude oil stockpiles rose last week while gasoline inventories fell by nearly 8 million barrels data from industry group the American Petroleum Institute showed.
Crude invent...