Crude oil futures prices are trading below Rs.4780/bbl with loss of near 1 percent in MCX platform. Oil futures slipped unexpectedly, might have taken negative cues from weakening Euro. Bounce back in both Asian and European equity market is seen,

however oil prices have come under pressure. We may expect oil to remain weak ahead of Spain bond auction during European session. However, market will be eyeing on fed meet, where Chairman’s speech on US economic growth is awaited. Positive sentiment for Quantitative easing may support oil to trade on higher side

Our Morning Crude Oil Call,

07-06-12 11:39 Sell Crude Oil@ 4712 T1:4685 T2:4660  SL above:4755 SecondSell:4735

Crude Call Targets Ware Achived

07-06-12 12:59 Book Profit in Crude Oil,Target2 is About to Achieved,Cmp:4670 Profit: 4200+ per lot –

Note : If Crude Oil Have Pull Back Above 4705 again, Than One Can Buy to Book Momentum Small Profits up to 4725/4755 Levels @07.06.12 01:12 PM

Technical update on Crude July NYMEX: @ 05:00 PM

Prices are witnessing formation of rising three candle stick pattern in the daily price chart. Usually this is consider as a bearish continuation patter but Momentum indicator RSI-14 is still trading in oversold zone in hourly and daily price chart. In hourly price chart price are witnessing trend line support at $84.40 levels..Will Show Short term Positive Trend

Our Crude Recommendation of Buy On Pull Back Given @ 01:12 PM, Is Active,Buy Was Advised on 4705,Cmp.:4037,One Can Book Profit of Rs.3200+ per lot – @ 07.06.12 05:02 PM

Update 2 :

Crude Oil Free Call, bought @ 4705,High Made:4755,All Targets Achieved,Profit: Rs.5000+ per Lot- @07.06.12 05:25 PM

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