Crude Oil Intraday Outlook – CMP 56.20

Crude Oil is trading around 56.20 and remains under selling pressure as long as price stays below the 56.60 pivot. The short-term structure is bearish to sideways, with sellers defending rallies near resistance zones.

Key Levels to Watch:

• Resistance: 57.20 / 57.80 / 58.40
• Support: 55.70 / 55.10 / 54.30

Bearish Scenario:

As long as price trades below 56.60, sell-on-rise remains the preferred strategy. A move below 56.00 can accelerate downside toward 55.70, followed by 55.10.

Bullish Recovery Scenario:

Only a strong and sustained move above 56.60 would ease selling pressure and open the path toward 57.20 and 57.80.

Intraday Strategy:

Sell rallies near 56.50–56.60, keep a protective stop above 57.00, and target 55.70 / 55.10. Long positions are advised only if price firmly holds above 56.60.

Bottom Line:

Trend remains negative below 56.60. Bears stay in control unless buyers reclaim the pivot decisively.

For Trade setup and more : https://t.co/3XzG4OR5Am