Crude Check: Bulls gain strength

SENSEX 74,729.27

+ 413.66

NIFTY 23,146.15

+ 148.80

CRUDEOIL 9,570.00

+ 285.00

GOLD 147,903.00

+ 414.00

SILVER 211,286.00

+ 626.00

SENSEX 74,729.27

+ 413.66

NIFTY 23,146.15

+ 148.80

NIFTY 23,146.15

+ 148.80

CRUDEOIL 9,570.00

+ 285.00

CRUDEOIL 9,570.00

+ 285.00

GOLD 147,903.00

+ 414.00

'; } document.getElementById("lgdv").innerHTML = htmlElements; } function numberformat(i) { return Number(parseFloat(i).toFixed(2)).toLocaleString('en', { minimumFractionDigits: 2 }) } async function gatherResponse(response) { const { headers } = response; const contentType = headers.get('content-type') || ''; if (contentType.includes('application/json')) { return await response.json() } return response.text(); } function getWidth() { if (Math.max(document.body.scrollWidth,document.documentElement.scrollWidth,document.body.offsetWidth,document.documentElement.offsetWidth,document.documentElement.clientWidth) > 991) { document.getElementById("mob").style.display = "none"; document.getElementById("lgdv").style.display = "block"; } else { document.getElementById("mob").style.display = "block"; document.getElementById("lgdv").style.display = "none"; } } getWidth(); THIS AD SUPPORTS OUR JOURNALISM. SUBSCRIBE FOR MINIMAL ADS.THIS AD SUPPORTS OUR JOURNALISM. SUBSCRIBE FOR MINIMAL ADS.

Traders can buy MCX crude futures 

By Akhil Nallamuthu

Updated - October 17, 2026 at 09:35 PM. | bl. research bureau

Oil prices shot up last week. Brent crude oil futures on the Intercontinental Exchange or ICE ($109.90/barrel) rallied 4.9 per cent. Crude oil futures in the domestic market (₹9,394/barrel) advanced 6.4 per cent.

Brent futures ($109.90)

Brent crude futures extended the rally for the third week and is now hovering near a resistance at $110.

Given the upward momentum, the contract is likely to break out of this level. Notable hurdle above $110 is at $115. A breach of $115 can lead to a quick rise to $120.

However, if there is a fall from the current level, Brent crude futures can find support at $103 and $100. Within these two levels lies a rising trendline support, making it a strong base.

As it stands, a breakdown below $100 is unlikely.

MCX Crude Oil (₹9,394)

Crude oil (Nov) futures surpassed its prior peak of ₹9,310 last week. A comfortable breakout of ₹9,000 and a follow-through rally indicates a strong momentum.

Going ahead, the contract is likely to post more gains. The nearest potential resistance in sight is at ₹10,200. Subsequent barrier is at ₹10,500.

On the other hand, if the November futures dips, it can find support at ₹9,000 and ₹8,750. The immediate base below ₹8,750 is at ₹8,350. As long as this level holds, the outlook will be positive.

Strategy: Last week, we suggested buying October futures at ₹8,881. Exit this trade as this series will expire on Monday (October 19).

After exiting the October longs, traders can initiate buy in November contract at ₹9,250. Target and stop-loss can be ₹10,200 and ₹8,750, respectively.

Published on October 17, 2026

THIS AD SUPPORTS OUR JOURNALISM. SUBSCRIBE FOR MINIMAL ADS. THIS AD SUPPORTS OUR JOURNALISM. SUBSCRIBE FOR MINIMAL ADS. THIS AD SUPPORTS OUR JOURNALISM. SUBSCRIBE FOR MINIMAL ADS. THIS AD SUPPORTS OUR JOURNALISM. SUBSCRIBE FOR MINIMAL ADS.Sign into Unlock benefits!

• Access 10 free stories per month
• Get notified by email for early preview to new features, discounts & offers