MTECHTIPS

MTECHTIPS:-Crude oil witnessed strong buying based rally in the week,  and the commodity sustained strongly above the 5400 levels. Strong weekly support in crude oil is seen below 5400 levels and till it manages to hold above these levels the trend will remain positive. Any dip below these levels will open up lower levels of
5300 and below. Crude oil will face strong weekly  resistance above 5640 levels. If the commodity holds above, levels of 5760 is possible.