Energy Sector and Oil Futures Update for Commodity Traders: Nirmal Bang

Oil PriceCrude oil: The counter looks positive with a close above all the 7, 21 and 40 DMA. We can also find a positive cross over at the ADX, thus trend may remain positive from here. Thus prices may remain positive for the target 3550 levels.

The fluctuation in oil prices in affecting the commodity price and causing inflation in Indian markets.