5:21 AM
Analyst
Rupees due to the recovery in the domestic market have increased pressure on crude oil. However Nymax Crude is still near to 101 dollar. The meeting of the ECB before has come under pressure on the Nymax crude oil today. MCX crude oil has slipped 0.5% to Rs & come down 6080.
Why it’s Turn Back?
The deepening political crisis in Egypt via the Suez Canal is likely to affect the supply of crude. Interruptions of any kind on the way, for the transportation of crude oil may have to travel the extra distance is 6,000 miles. The cost of transportation of crude oil expected to grow rapidly throughout the last 2 days has come up.
Expected Trading Levels:- Now we expected MCX Crude must touch the levels of 6050. All one can turn to sell on Zone. Best selling Price is 6080 to 6075. Crude First resistance levels 6121 and next one is 6149. Support levels between 6031 and 6003.
Calls: Sell MCX Crude oil 19 July contract targets with in levels 6080 Targets 6065, 6050 Stop Loss 6105.
Why it’s Turn Back?
The deepening political crisis in Egypt via the Suez Canal is likely to affect the supply of crude. Interruptions of any kind on the way, for the transportation of crude oil may have to travel the extra distance is 6,000 miles. The cost of transportation of crude oil expected to grow rapidly throughout the last 2 days has come up.
Expected Trading Levels:- Now we expected MCX Crude must touch the levels of 6050. All one can turn to sell on Zone. Best selling Price is 6080 to 6075. Crude First resistance levels 6121 and next one is 6149. Support levels between 6031 and 6003.
Calls: Sell MCX Crude oil 19 July contract targets with in levels 6080 Targets 6065, 6050 Stop Loss 6105.
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