Energy Trading Update and Market Outlook: Nirmal Bang
Crude oil: The counter is seen taking support at the 3300 levels, but however resisting to close above the 7 DMA. The prices may trigger an upside till 3425 levels in short run on close above the 7 DMA of 3355, as long as prices maintain above the 3300 levels on the downside. Thus one can remain long at lower levels with stop loss below 3300 levels. Breaching 3300 in the close can trigger further downside in the prices.