MCX Crude Oil Price Prediction for Tomorrow 29 May 2026: Key Levels and Analyst Outlook

The MCX crude oil price prediction for tomorrow on 29 May 2026 is bearish, based on MCX Crude Oil (June 2026 contract) closing at Rs 9,014 per barrel on 27 May 2026. The session ranged between Rs 8,940 and Rs 9,155 with -0.4% change. Global market weakness indicated by GIFT Nifty at -261 points (-1.09 per cent) adds caution to all commodity markets including crude oil for 29 May 2026. The 52-week range for MCX Crude Oil is Rs 6,800 to Rs 10,400 per barrel.

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MCX Crude Oil Price on 27 May 2026

Close (June 2026): Rs 9,014 per barrel

Session Open: Rs 9,050 | High: Rs 9,155 | Low: Rs 8,940

52-Week High: Rs 10,400 | 52-Week Low: Rs 6,800 per barrel

MCX Crude Oil closed at Rs 9,014 per barrel on 27 May, well below the May high of Rs 10,400. OPEC plus discipline and US-Iran deal uncertainty drive the correction.

MCX Crude Oil Price Prediction for Tomorrow 29 May 2026

Trend: Bearish

Support 1: Rs 8,885 | Support 2: Rs 8,795

Resistance 1: Rs 9,155 | Resistance 2: Rs 9,245

Ankit Jaiswal, Senior Research Analyst at Univest, notes that the crude oil prediction for tomorrow places Rs 8,885 per barrel as immediate support for the 29 May 2026 session. A hold above this level keeps the bearish structure intact toward Rs 9,155. The global weakness signal from GIFT Nifty (-261 points), Nikkei falling 1.54 per cent and Hang Seng declining 2.31 per cent on 28 May 2026 adds caution to commodity longs on 29 May 2026.

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Global Factors Affecting MCX Crude Oil Tomorrow 29 May 2026

• GIFT Nifty and Asian Market Weakness: GIFT Nifty at -261 points, Nikkei -1.54% and Hang Seng -2.31% signal risk-off sentiment that typically weighs on commodity markets including crude oil.
• US-Iran nuclear deal timeline: This is the primary global factor determining MCX Crude Oil direction on 29 May 2026.
• OPEC plus compliance data: Traders should monitor this factor for an intraday catalyst in crude oil futures.
• US crude oil inventory report: This longer-term factor supports the structural outlook for crude oil beyond the near-term noise.

MCX Crude Oil Trading Strategy for 29 May 2026

1. Wait for Open: Do not initiate fresh crude oil positions on the gap-down open. Allow the first 15-minute candle to form a directional signal.

2. Bull Setup: If MCX Crude Oil holds above Rs 8,885 in early trade, a recovery toward Rs 9,155 is the first target. Scale in cautiously.

3. Bear Setup: Sustained break below Rs 8,795 opens the path to lower levels. Use strict stop-losses in any short crude oil futures trade.

4. Event Watch: US-Iran nuclear deal timeline is the session’s key catalyst. Any positive update can reverse the crude oil prediction for tomorrow toward 9,245.

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Conclusion

The MCX Crude Oil price prediction for tomorrow 29 May 2026 is bearish, with support at Rs 8,885 and resistance at Rs 9,155 per barrel. MCX Crude Oil closed at Rs 9,014 per barrel (-0.4%) on 27 May 2026, within a 52-week range of Rs 6,800 to Rs 10,400. Ankit Jaiswal of Univest flags Rs 8,885 as the critical support for 29 May 2026. Global market weakness indicated by GIFT Nifty at -261 points adds caution to all commodity trades. This crude oil prediction for tomorrow is for educational purposes only. Consult a SEBI-registered advisor before placing any commodity trades.

Investments in securities are subject to market risk. This content is for educational purposes only and does not constitute investment advice.

Frequently Asked Questions

What is the MCX Crude Oil prediction for tomorrow 29 May 2026?

Ans. The MCX Crude Oil price prediction for tomorrow is bearish. MCX Crude Oil closed at Rs 9,014 per barrel on 27 May 2026. Support is at Rs 8,885 and resistance at Rs 9,155. Global weakness from GIFT Nifty (-261 points) and Asian markets adds caution.

What is the support for MCX Crude Oil on 29 May 2026?

Ans. MCX Crude Oil has immediate support at Rs 8,885 per barrel and secondary support at Rs 8,795 for the 29 May 2026 session. Ankit Jaiswal of Univest identifies Rs 8,885 as the make-or-break level for the crude oil prediction for tomorrow.

What is the resistance for MCX Crude Oil on 29 May 2026?

Ans. MCX Crude Oil has immediate resistance at Rs 9,155 per barrel and next resistance at Rs 9,245 for 29 May 2026. A sustained close above Rs 9,155 would signal bullish momentum in the crude oil prediction for tomorrow.

What are the global factors affecting crude oil prediction for tomorrow?

Ans. Key global factors are us-iran nuclear deal timeline, opec plus compliance data, and us crude oil inventory report. Additionally, GIFT Nifty at -261 points and Asian market weakness add near-term caution to the crude oil prediction for tomorrow 29 May 2026.

What is the 52-week range for MCX Crude Oil?

Ans. The 52-week range for MCX Crude Oil is Rs 6,800 to Rs 10,400 per barrel. The current price of Rs 9,014 is near the upper end the 52-week range. This context informs the crude oil prediction for tomorrow.