MCX Crude Oil under short covering Support seen at 4419
India, April 18 -- Technically Crude Oil market is under short covering as market has witnessed drop in open interest by 13. 66% to settled at 12170 while prices up 7 rupees.Now MCX Crude Oil is getting support at 4419 and below same could see a test of 4400 level And resistance is now likely to be seen at 4466 a move above could see prices testing 4494.Crude Oil on MCX settled up 0.16% at 4438 propelled by steady economic growth in China and a fall in U.S. crude stocks which defied expectations and signalled firm demand while global supply remained tight.While OPEC-led supply cuts have boosted Brent by more than 30 percent this year gains have been limited by worries that slowing economic growth could weaken demand for fuel.Russia raised c...
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