MCX Crude Oil has been in an sidewise down trend since past three months forming lower tops and lower bottoms. 'A breakdown can be seen from the current level as price has breached the major long term support line and channel support at Rs 5,640 and if price sustain below then it will trigger further correction till Rs 5,190/5,000 (previous low). Hence the short term trend continues to look bearish for crude oil and a test of previous low at Rs 5,190/5,000 (T) level looks possible,'' said Dharmesh Bhatia, DVP research, technical analyst, Kotak Commodity Services.

Bhatia recommends going short in MCX Crude oil at current price at Rs 5,570 on rise towards Rs 5,640 with target Rs 5,190/5,000 and stop loss (closing below) Rs 5,799 level.

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