JUNE 3 WEDNESDAY
Crude oil for July delivery fell 3 cents to end at $68.55 a
barrel on the New York Mercantile Exchange.
Crude for trade under the MCX India last traded at 3224
gaining 34 points for the day.
Fundamental scenario:
Crude gains as an upbeat homes sales data from the largest
consumer U.S reignites hopes of an economic
recovery and a subsequent increase in the demand prospects.
The pending home sales index for April rose
6.7% after a 3.2% increase in March. The index, based on sales
contracts on existing homes, was 3.2%
above April 2008.
Crude Oil for trade under the NYMEX might see supports at
$67.20 levels while the resistance for the
same might be seen at $69.20 levels respectively.
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