DEC 22 MONDAY
SHORT TERM TREND : BEARISH
LONG TERM TREND : BEARISH
S1 RS 2010 , S2 RS 1970 , S3 RS 1925
R1 RS 2075 , R2 RS 2110 , R3 RS 2160
STAY SHORT AT RESISTENCE.
Oil fell below $ 34 On Friday to its lowest level in
more than 4 1/2 years as the global economic slowdown
overshadowed OPEC'S record supply cut .
US Light Crude for January delivery fell $ 2.64 to
$ 33.58 a barrel .
It earlier touched $ 33.44 the lowest since April 2004.
Oil has continued to drop despite pledges by the OPEC
last week to remove 22 million barrels per day from
its supply which is its largest ever reduction by the
producer group.
Crude for Jan expiry under the MCX might see resistence
at Rs 2115 levels while support may be seen at Rs 1970
levels.
No comments:
Post a Comment