MCX crude was facing resistance near 5180-5190 but yesterday it has crossed with a good volume upto 5229. It has given a good breakout. Last week crude was not able to break below 5120 as it has touched the low of 5121 ( As Nymex crude is trading near $97 which has got good support at $94 and it will now go non stop upto $101 . So MCX crude near term target is 5350-5370. SO stay long in crude with a stop loss of 5175.
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