Tag Archives: crude tips

Should you Bet on Crude, Zinc, Gold Now? Experts Guide

4 Jul

Commodity experts are upbeat on crude, zinc, gold and copper, they advise buying them.

Reena Rohit of Angel Broking advises buying MCX near month crude oil contract around Rs 6,070 per barrel with a stop loss at Rs 6,020 per bbl for target of Rs 6,150 per bbl.

Dharmesh Bhatia of Kotak Commodities recommends buying on dips MCX July zinc at Rs 111 per kilogram with stop loss at Rs 110 per kilogram for target of Rs 114 per kilogram.

N Prasad of Safetrade Advisors suggests buying MCX gold at Rs 26,300 per 10gm with a stop loss of Rs 26,150 per 10gm for target of Rs 26,600 per 10gm.

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Sugandha Sachdeva of Religare advocates buying copper at Rs 418 per kilogram with stop loss at Rs 414 per kilogram for initial target of Rs 428 per kilogram with higher targets around Rs 432 per kilogram in coming days.

Watch video here: http://www.moneycontrol.com/news/commodities/should-you-betcrude-zinc-gold-now-experts-guide_911226.html

MCX Crude Oil bearish; support 5600 and 5580

22 Jun

For intra-day, support for the commodity is seen at 5600 while resistance is seen at 5630. If prices break the level of 5600 then prices are expected to move towards 5580. MCX crude oil futures for July delivery was seen trading down by 0.04% at Rs. 5612 per barrel as of 11.56 PM IST on Saturday.

MUMBAI: The trend in crude oil futures for July delivery on India’s Multi Commodity Exchange (MCX) looks bearish for the day and traders are advised stay at sell side.

“For intra-day, support for the commodity is seen at 5600 while resistance is seen at 5630. If prices break the level of 5600 then prices are expected to move towards 5580,” said Amrita Mashar, Research Analyst at Commodity Online.

“Traders may take buy position near 5610 with the stop loss of 5630 for the target near 5580,” she added.

MCX crude oil futures for July delivery was seen trading down by 0.04% at Rs. 5612 per barrel as of 11.56 PM IST on Saturday.

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Last week, in the global market, crude oil prices fell to the lowest since September on higher than expected rise in US crude oil inventories, concerns over economic recovery in China and the United States and US Federal Reserve Chairman Ben Bernanke stated that the Central Bank may end its monetary stimulus partially this year and potentially withdrew it by the middle of next year on the assumption that US economy is improving.

WTI crude oil futures for August delivery on NYMEX closed down by 1.32% at $ 93.89 per barrel on Friday.

Brent crude oil futures for August delivery on NYMEX closed down by 1.19% at $100.94 per barrel on Friday.