Crude oil traded near the lowest in 12 weeks on speculation gasoline demand growth in Asia and the U.S. may slow after near-record prices reduced consumption. Now support for the crude is seen at 5088 and below could see a test of 4996. Resistance is now likely to be seen at 5319, a move above could see prices testing 5458.
Trading Ideas
TRADING RANGE IS 4990-5450.
SELL CRUDE ONLY BELOW 120$ YESTERDAY LOW WAS 120.54$
SELL CRUDE @ 5240-5260 SL 5286 TGT 5200-5178-5145-5100. MCX
SELL CRUDE BELOW 5100 FOR TGT 4860-4800 LEVEL.
EXPECTED INVENTORY TODAY IS -1.2M AGAINST -1.6M.
MCXARUN
9994500540
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