OCT 2 MONDAY
SHORT TERM TREND : BULLISH : TARGET RS 4930
LONG TERM TREND : BULLISH : TARGET RS 4840
S1 RS 4840 , S2 RS 4800 , S3 RS 4760
R1 RS 4880 , R2 RS 4930 , R3 RS 4970
MARKET IS EXPECTED TO MOVE HIGHER.
PREFER LONGS AT SUPPORT.
The market is increasingly focussed on demand ,
although supply concerns continue to weigh
heavily.Non OPEC supplies are weak.Oil
demand appears to be declining and the overall global
demand my be on par with other weak years in
the past.
In other words market is going to be torn between
demand weakness and supply concerns.
Demand weakness may not allow the market to
stay above $ 100 a Barrel and may pull
prices towards the $ 90 a barrel.
Crude market may range between $ 90 and $ 110
a barrel in the near future.
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