FEB 18 WEDNESDAY
SHORT TERMN TREND : BEARISH
LONG TERM TREND : BEARISH
S1 RS 1920 , S2 RS 1880 , S3 RS 1835
R1 RS 1988 , R2 RS 2015 , R3 RS 2056
STAY SHORT AT RESISTANCE.
US Crude for March delivery settled at $ 34.93
a barrel down $ 2.58 from Fridays close.
London Brent Crude for April delivery dropped $ 2.25
to settle at $ 41.03 a barrel.
The commodity for March expiry under MCX India last traded at
2110 levels.
Crude fell nearly 7 % to below $ 35 a barrel on Tuesday as
grim economic indicators and rising stock piles raised
concerns over slumping demand.
Factory activity in Newyork state fell to a record low
in February with new orders and employment falling
sharply as the US recession deepened.
Crude has support at $ 33 and then at $ 31.
Resistance for the same can be seen at $ 35 and $ 37.
7 comments:
Can I Buy Crude Around 1910
ANURAG,
WAIT FOR CALL, BUT TREND BEARISH AND SUPPORT AT 38.75 $, BREAKDOWN CAN TAKE IT FURTHER DOWN.
AKSHAYA
wen did the nymex crude contract expires is it at 25-3-09 so can we expect some volataile in crude?
US crude for March delivery, which expires on Friday. so is there a chance for sort covering?.will it rach 2000
i have short crude in apr lot at 2060 should i hold ?is your nickel sell call still on ? n what is d sl for nickel
KARTHI,
CONTRACT EXPIRES IN NEW YORK ON FRIDAY 20 FEB.
MAJOR SUPPORT IS AT 33. 80 $ ABREAKDOWN OF WHICH WILL TEST $ 30. WEEKLY INVENTORY WILL COME OUT TOMORROW WHICH WILL IMPACT THE PRICE,
AKSHAYA
WILLIAM,
STOP FOR NICKEL IS 495.
CRUDE APRIL : YOU MAY HOLD SHORT TILL OUR FURTHER UPDATE ON OUR CRUD EBLOG.TREND ; DOWN.
AKSHAYA
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