COMMODITY CRUDE UPDATES
U.S. crude oil stocks reached
a record level of 23 years. Once again there
have been huge gains in U.S. crude
reserves. Has increased by about 2.5 million barrels
last week, incl. Meanwhile,
demand for OPEC crude
for this year
has slashed its
estimate on. Hence, the pressure
on crude oil prices in the international market is showing. The domestic
market is also affected. MCX crude oil is trading down
flat and Rs
5,155, while on
NYMAX crude slipped
0.25 per cent, has come down to $ 94.5.
- @
Buy MCX Crude oil below 5150 Targets
5135, 5120 Stop Loss 5180.
-
@
Sell MCX NG at around 223.50 targets 222.50,
221.50.
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