Crude Oil Updates and MCX Tips Today: Bullions are Down

Crude Oil Updates

Crude Oil updates for this week is that crude oil futures price fell Friday as new evidences of languid worldwide fuel request has gurus worried about climbing oil supplies. Early Friday the Organization of the Petroleum Exporting Countries cautioned in its monthly viewpoint that abating development in China and investment shortcoming in the euro zone are undermining to further moderate the worldwide economy. Light, sweet unrefined for June conveyance as of late exchanged $2.11, or 2.2%, lower at$94.28 barrel on the New York Mercantile Exchange. Brent rough on the Ice fates trade fell $1.95 pennies lower to $102.52 a barrel. "The Open report today is not supporting for interest in the second 50% of not long from now. 

Although for domestic trading Crude oil may futures contract is looking weak on technical reports. We would suggest to sell crude oil on higher value. A major support is looking around 5140-5040 level and a resistance level range is at 5210-5288. Intraday trading are advised to sell crude oil on Higher level.

MCX Tips Today

Sell MCX Gold For Intraday trading below 26740 for Target of 26400 and stop loss above 26850 

Sell Crude oil below 5208 level for the Target of 5160 and 5120 with a stop loss at 5235.

Sell MCX Silver around 45200 level to get the Target of 44300 and a stop loss above 45700.

Categories: Crude Updates, MCX Tips