Daily Crude Outlook Jan 05, 2017.

Oil prices dipped on Thursday on doubts producers would fully deliver on promises to cut output, although record U.S. automobile sales and falling crude stocks offered markets some support. In International market Crude future currently is trading at $53.15 with 0.21% of loss in prices. Technically NYMEX Crude prices having a good resistance at $55 while support seen at $51. In MCX Crude future expected to open in negative zone. Technically on daily charts Crude Jan future now having a good resistance level at Rs 3700 while support at 3600. Intra-day traders advice to buy Crude Jan future above Rs 3650 wait for the target price of Rs 3700, with stop loss of Rs 3600.
Published on Jan 5 2017 11:06AM, by sudhanshubbd in Commodity tips| Share This

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