MCX Crude Oil: Strong Uptrend With a Healthy Pullback
MCX Crude Oil remains in a strong uptrend. At Rs 8,761 (13 October 2026), prices are consolidating above their short-term moving averages after a trendline breakout.
Why Crude Oil Looks Bullish
- Trendline breakout with higher highs and higher lows.
- Price holding above short-term moving averages.
- MACD trading above the centre line, supporting bullish momentum.
Crude Oil Support and Targets
Immediate support sits at Rs 8,610 (20 DEMA), followed by Rs 8,388. A rebound from these zones could lift crude towards resistance at Rs 9,035. A sustained break above Rs 9,035 may trigger a fresh rally to Rs 9,453, and a further breakout could extend the near-term target to Rs 10,034.
| Instrument | Trend | CMP | Support | Resistance |
|---|---|---|---|---|
| MCX Crude Oil | Bullish | Rs 8,761 | Rs 8,610 – 8,388 | Rs 9,453 – 10,034 |
Trading Takeaways
- Buy-on-dips zone: Rs 8,610 and Rs 8,388.
- First hurdle: Rs 9,035; a sustained break targets Rs 9,453 and Rs 10,034.
Levels are technical views for information only, not investment advice. Commodity trading involves high risk; consult a SEBI-registered advisor before trading.
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