MTECHTIPS MCX Crude Oil looks bearish; support at Rs 5200

MTECHTIPS:-MCX Crude Oil looks bearish; support at Rs 5200

The trend in crude oil futures for June delivery on India's Multi Commodity Exchange (MCX) looks bearish for the day and intra-day traders are advised to remain on sell side.“For intra-day, crucial support for the commodity is seen at Rs 5200 while Rs 5260 is the resistance. Traders may take sell position near Rs 5230 with stop loss of Rs 5260 for the target near Rs 5200,MCX crude oil futures for June delivery was seen trading down by 1.01% at Rs.5215 per barrel as of 06.18 PM IST on Monday.US crude oil futures fell below $94 per barrel on Monday on growing concerns over economic slow down in China and US Federal Reserve may end its monetary stimulus program as unemployment claims fell last week.WTI crude oil futures on NYMEX for July delivery was seen trading down by 0.61% at $93.58 per barrel as of 06.14 PM IST on Monday.Brent crude oil futures for July delivery was also seen trading down by 0.19% at $102.45 per barrel as of 06.42 PM IST on Monday.