MCX Crude oil Boom Today @ Trading Calls for Short Term

After the details of the last meeting of the US Fed crude oil has risen sharply. On Nymex crude has risen to $ 50, Brent crude is trading above $ 53. The domestic business is also showing. This week, 11 per cent Brent and WTI crude has rallied nearly 9 percent. This is the biggest weekly gain in the last 6 years. Since August crude has rallied nearly 30 percent.

The demand for OPEC crude is expected to grow. October 21 meeting of oil producing countries, too. However, the supply will increase next month, Iran, while Saudi Arabia has put its full strength to increase market share. South American countries are not in favor of a rise in crude.

Trading Calls for Today

 You can Buy MCX Crude oil around 3230 to 3240 target 3275, 3300 Stop Loss 3209