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Cryptocurrency Prices by Coinlib

Crude Report 5 Jan 2021

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Commentary

  • The OPEC+ group decided on Tuesday to add another 400,000 barrels per day to its total oil production in February
  • The move was widely expected by the market
  • Oil rose 1 just after the meeting concluded
Crude

WTI Crude High 84.51$ Low 62.43$, where 78.51$ is a crucial resistance.

MCX CRUDE has a resistance @ 5900 around

Range:   78.51$ - 74$

MCX:      5900 - 5500

Our Preference: Sell Crude @ 5900 = 78.51$ for target 5550 = 73.81$ with risk of 79.21$ = 5955 only if sustain above


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