Crude bearish below 132
17 July 2008 11:38:25
Crude oil traded little changed near $135 a barrel in New York after falling almost 3 percent yesterday as U.S. inventories increased unexpectedly. Support for the crude at 5677 and below could see a test of 5543. Resistance is now likely to be seen at 5993, a move above could see prices testing 6175.
Trading Ideas
TRADING RANGE IS 5543-6175.
SELL CRUDE @ 5800-5820 SL 5852 TGT 5762-5734-5690. MCX
CRUDE BELOW 132$ LOOK BEARISH ELSE 138-140 WILL BE THE RANGE
MCXARUN
9994500540
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