Crude oil September future prices witnessed downfall on Friday’s trading session by reversing the previous trend.

After witnessing a high of 3534 it settled at 3462 levels.

Closing below the daily short term (9) days EMA suggests downside movements for the day and heading towards (18) EMA.

We expect prices to trade sideways to lower and recommend selling at higher levels.

Crude oil MCX: Sell September at 3480 TP 3445 SL 3505

Courtesy: Karvy Commtrade Ltd.

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