Crude Oil Prediction for Monday 8 June 2026: MCX Price Forecast and Key Levels
- June 5, 2026
- Posted by: Ankit Jaiswal
- Category: News
Crude Oil MCX Rs 8,380/barrel (-0.36%) on 5 Jun. Support Rs 8,200, resistance Rs 8,550. Trend: Cautiously Bearish. Monday 8 Jun.
The Crude Oil prediction for Monday 8 June 2026 is Cautiously Bearish as MCX Crude Oil closed at Rs 8,380/barrel (-0.36%) on Friday 5 June 2026. Crude Oil fell -0.36% Friday as reports of US-Iran preliminary peace deal progress created supply risk premium reduction; Nifty 50 direction will also respond to crude direction on Monday. The Crude Oil prediction for Monday will also be shaped by the US Non-Farm Payrolls data released on Friday evening and the overnight global commodity market movements, including Dollar Index direction. Ankit Jaiswal, Senior Research Analyst at Univest, and Kunal Singla, Associate Director at Univest, provide the key technical levels for the Crude Oil prediction for Monday 8 June 2026.
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Friday 5 June 2026 Market Close
- Nifty 50: 23,366.70 (-0.21%). High 23,516.35, low 23,282.65. RBI held repo at 5.25%; market opened positive but gave back gains late session.
- Bank Nifty: 54,496.25 (+0.35%). Hit +0.35% high intraday on RBI day. PSU banks outperformed; SBI high Rs 992.60.
- India VIX: 15.79 (intraday low 13.46 — multi-week low). Declining VIX is constructive for Monday 8 June 2026 open.
- Nifty IT: 29,010.30 (-0.99%). Wipro fell -2.91% post-buyback record date.
- FII/DII (4 June): FII net Rs -4,475.76 Cr; DII net Rs +3,986.44 Cr.
- Key event for Monday: US NFP data released tonight (5 June); Monday open will react to this first.
Crude Oil Price Levels for Monday 8 June 2026
| Parameter | Value |
|---|---|
| MCX Close (5 June) | Rs 8,380/barrel |
| Previous Close | Rs 8,410/barrel |
| Change | -0.36% |
| Support 1 | Rs 8,200/barrel |
| Support 2 | Rs 8,050/barrel |
| Resistance 1 | Rs 8,550/barrel |
| Resistance 2 | Rs 8,680/barrel |
| Trend | Cautiously Bearish |
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Crude Oil Prediction for Monday: Technical Analysis
Ankit Jaiswal observes that the Crude Oil prediction for Monday is anchored at Rs 8,200 support. Crude Oil fell -0.36% Friday as reports of US-Iran preliminary peace deal progress created supply risk premium reduction; Nifty 50 direction will also respond to crude direction on Monday. A break above Rs 8,550 with volume would be the bullish trigger for the Crude Oil prediction for Monday 8 June.
Kunal Singla notes that the Crude Oil prediction for Monday is sensitive to overnight US data. The US NFP reaction and any Iran geopolitical update will set the MCX opening tone for Monday.
Bull and Bear Case for Crude Oil Prediction for Monday
Bullish: US-Iran deal progress reducing supply disruption risk premium; US record production adding supply. Target Rs 8,550 then Rs 8,680.
Bearish: Weekend Iran escalation or OPEC+ surprise cut announcement reversing the bearish trend for Monday. Risk toward Rs 8,200 then Rs 8,050.
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Conclusion
The Crude Oil prediction for Monday 8 June 2026 is Cautiously Bearish with Rs 8,200 as key support and Rs 8,550 as resistance. Ankit Jaiswal and Kunal Singla recommend strict stop-loss discipline. Data is sourced from open public platforms — verify from official NSE/BSE sources.
Investments in securities are subject to market risk. This content is for educational purposes only and does not constitute investment advice.
Disclaimer: The securities quoted, if any, are for illustration purposes only and are not recommendatory. This article is for educational purposes only and shall not be considered as investment advice or a recommendation by Univest (Uniresearch Global Pvt Ltd, SEBI Registered Research Analyst INH000013776). Investments in the securities market are subject to market risks. Read all related documents carefully before investing. Data is sourced from open public platforms including NSE and BSE and may be subject to revision. Verify data from official NSE/BSE sources before making any investment decision. Registration granted by SEBI in no way guarantees the performance of the intermediary or provides any assurance of returns to investors. Past performance is not indicative of future results.
Frequently Asked Questions
What is the Crude Oil prediction for Monday 8 June 2026?
Ans. The Crude Oil prediction for Monday is Cautiously Bearish. MCX Crude Oil closed at Rs 8,380/barrel (-0.36%) on Friday 5 June. Support Rs 8,200, resistance Rs 8,550. Crude Oil fell -0.36% Friday as reports of US-Iran preliminary peace deal progress created supply risk premium reduction; Nifty 50 direction will also respond to crude direction on Monday.
What is the Crude Oil price target for Monday?
Ans. The Crude Oil price target for Monday 8 June ranges from Rs 8,200 on the downside to Rs 8,550 on the upside. A sustained break above Rs 8,550 signals bullish momentum.
What factors affect Crude Oil prediction for Monday?
Ans. US-Iran deal progress reducing supply disruption risk premium; US record production adding supply supports bullish scenario. Weekend Iran escalation or OPEC+ surprise cut announcement reversing the bearish trend for Monday is the primary bearish risk for the Crude Oil prediction for Monday 8 June 2026.
What is MCX Crude Oil support and resistance for Monday?
Ans. Support 1: Rs 8,200/barrel. Support 2: Rs 8,050/barrel. Resistance 1: Rs 8,550/barrel. Resistance 2: Rs 8,680/barrel.
Is Crude Oil bullish or bearish for Monday 8 June 2026?
Ans. The Crude Oil prediction for Monday is Cautiously Bearish. Crude Oil fell -0.36% Friday as reports of US-Iran preliminary peace deal progress created supply risk premium reduction; Nifty 50 direction will also respond to crude direction on Monday. Watch Rs 8,550 as key resistance and Rs 8,200 as key support on Monday.
How does the Dollar Index affect Crude Oil prediction for Monday?
Ans. A stronger Dollar typically pressures Crude Oil prices. The US NFP data released on Friday evening and the Dollar Index direction will set the tone for the Crude Oil prediction for Monday 8 June 2026.
What is the global outlook for Crude Oil for Monday 8 June 2026?
Ans. Globally, Crude Oil fell -0.36% Friday as reports of US-Iran preliminary peace deal progress created supply risk premium reduction; Nifty 50 direction will also respond to crude direction on Monday. MCX Crude Oil tracks international benchmarks adjusted for the rupee rate. MCX opening on Monday will reflect overnight global movements.
Should I trade Crude Oil on Monday 8 June 2026?
Ans. This article is for educational purposes only and does not constitute investment advice. Consult a SEBI-registered financial advisor before making any Crude Oil trading decision for Monday.
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