FEB 19 THURSDAY
SHORT TERM TREND ; BEARISH
LONG TERM TREND ; BEARISH
S1 RS 1860 , S2 RS 1815 , S3 RS 1780
R1 RS 1918 , R2 RS 1954 , R3 RS 1985
STAY SHORT AT RESISTANCE.
US Crude for March delivery slipped 31 cents to settle
at $ 34.62 a barrel , while US Crude for April
delivery fell $ 1.13 to $ 37.41 and London Brent
for April delivery fell $ 1.48 to 4 39.55.
The commodity for March expiry under MCX India last
traded at Rs 2031 levels.
Oil fell nearly 1 5 to nearly $ 35 a barrel on slump
in fuel demand from top consumer the United States
which could see crude inventories rise to a 11
year high for eight straight week.
Crude oil for trade under the Nymex could see
support at $ 33 and resistance for the same could
be seen at $ 35 .
2 comments:
as today is the settelment for crude so can we expect some short covering after new york opens
KARTHI,
WAIT TILL AFTERNOON FOR TREND TO EMERGE.
AKSHAYA
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