The March MCX Crude Oil futures are facing strong resistance around the 20-DMA (Rs 3,180) for the past three trading sessions. On Wednesday, the energy futures tested a high above the short-term moving average at Rs 3,200, but however ended slightly below it with a gain of almost a per cent (Rs 25) at Rs 3,163 tracking NYMEX Crude Oil prices.
The Crude Oil prices are trading above the 50-DMA (Rs 3,120), However, the bias may turn positive in case the commodity is able to break and trade above Rs 3,180-odd level.
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