On monday international crude breaks more than 5% and settled around $50 level which is the lowest settlement since April 2009. Crude tumbled heavily after data showed Russian oil output at post-Soviet era highs averaging 10.58 million barrels per day and Iraq plans to expand crude exports to 3.3 million barrels a day this month. Followed by Crude collapsed Dow Jones lost nearly 330+ points amid crude breakdown. This might have huge impact on oil exporting nations and oil sector companies.
MCX Crude volatility chart shows that MCX crude is trading above is normal historical volatility and lots of fear among commodity traders to go long in crude. However trend trading players will be benifited a lot because of extended volatilty and huge price action everyday.
ATR Volatility chart shows that MCX Crude maintains a prolong sell mode since 30th Sep 2014. Current resistance zone comes around 3569.