TECHNICALS FOR FEB 4
MCX FEB CRUDE OIL
SHORT TERM : BEARISH
LONG TERM : BEARISH
SUPPORTS : 1960, 1910, 1860
RESISTANCES : 2012, 2060, 2110
STAYSHORT AT RESISTANCES.
US light crude for March delivery rose 70 cents to settle at
$ 40.78 a barrel , while London brent rose 26 cents to
$ 44.08 a barrel .
Oil price rose after OPEC signalled it might deepen its
record output cut to help boost prices.
Oil's gain were encouraged by an uptick on the equities market
agfter better than expected US pending home sales data
boosted sentiment about the economy.
Crude oil traded under the Nymex might see support at
$ 37 levels and resistance for the same may be seen at
$ 41 levels.
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