crude intraday

Crude inventory to be low
09 July 2008 11:52:03

Crude oil traded near a two-week low in New York after falling the most in three months yesterday as Iran downplayed the possibility of a war and the dollar rose, limiting the appeal of commodities. Now support for the crude is seen at 5775 and below could see a test of 5643. Resistance is now likely to be seen at 6108, a move above could see prices testing 6309.

Trading Ideas

• TRADING RANGE IS 5643-6309.
• SELL CRUDE BELOW 5892 SL ABV 5922 TGT 5868-5853-5835. MCX
• TODAY INVENTORY IS EXPECTED TO BE LOWER SO A JUMP TILL 6050-6100 IS GOOD TO HAVE SHORT LEVEL.
• OVERALL TGT 5680 ON MCX

MCXARUN