CRUDE OIL UPDATES FOR FEB 14 2016

SUNDAY



WEEKLY UPDATE



Mcx Crude oil was trading in southward direction for more than 4 months and last week



prices tested a low of 1807, almost close to 2008 levels and prices recovered sharply



from 1807 to close at 2007 levels, 1800 remains very strong supports, we expect



prices to take strong supports at 1800 levels and may give a move up to



2150 – 2200 levels, buy on dips is advisable for the commodity.




Weekly Call :




Buy Mcx Crude oil on dips between 1950 – 1980



with SL below 1890



for targets 2150 and 2200.



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