Crude oil Aug MCX Technical : Prices recovered from a low of 4916 and it is currently trading higher at 4999 levels. Stiff resistance is seen at 5030 levels, which is likely to limit the upside gains. Sustained trades below 5030 it is possible to resume its downtrend. Note: Break above 5030 may trigger fresh buying towards 5090 levels.
Crude Oil News Update @ 07:00 PM Oil fuutres prices have jumped above Rs.5010/bbl as payrolls data from US increased more than expectation. In addition to this,
Syria fighting intensifies in Damascus creating concern of supply disturbances in Middle east . Thus, these two factors might be supporting oil prices to trade on higher side.
Free Call: Buy Crude Oil above 5030,T1:5050,T2:5075,SL:4090 – www.Commodity20.com
@ 03.08.12,08:00 PM
Crude Oil UPDATE @ 08:15 PM
Crude oil Sep Nymex future prices recovered from the low of $87.23 and are at $90.70, up by 4.07%. Technically speaking prices have breached the trend line resistance at $90 levels. Sustained trades above the same may help the prices to move towards $91 followed by $91.70 levels.
Crude oil Aug MCX future prices have breached the resistance at 5030 levels and are at 5046 levels. Upside potential is seen until 5076 levels. Expected trading range for next hour would be 5000-5076 levels.
Free Call Update : Crude Call , Buy Given @ 5030,Cmp:5063,One Can book Profit of Rs.3300+ per Lot – www.Commodity20.com @ 03.08.12, 09:00PM
Crude Oil UPDATE @ 09:05 PM
Crude oil Aug MCX : Supports : 5045/5018 Resistances : 5078/5102. Intraday bias remains upside for rest of the session as long as 5030 support is provided. CMP 5088
Free Call Update (Final) : Crude Call , Buy Given @ 5030,Cmp:5088,All Targets Achieved, EveryOne Book Profit of Rs.5800+ per Lot – www.Commodity20.com @ 03.08.12, 09:05PM