SUNDAY
WEEKLY UPDATE
WEEKLY UPDATE
Mcx Crude oil prices dropped below 5000 mark last week but
managed
to close above 5000 levels , trend for the commodity is clearly in
bearish
side reason behind the fall 1) thin demand 2)ample inventory and 3)
moderate weather , all put together we witnessed a major fall in crude
even we
expect further more correction if there is no disturbance in atlantic
coast for
the week. Even hurricane gonzalo moves towards northeast to
land fall near Cape
Race.
Weekly Call :
Sell Mcx Crude Oil between 5090 to 5130
with stops above
5210
for tgt 4950 ,
close below 4950
continue short positions by trailing stops
at cost for further target 4775.
