Tuesday, April 19, 2011

MCX Crude Updates- Crude Oil Likely To fall Further

MCX Crude Apr contract closed on Monday at 4831 rupees per barrel, down by 77 rupees against previous close of 4908. The contract opened down at 4822 made an intraday high at 4834 and last traded at 4820 down by 11 rupees. The said contract made an intraday low of 4756.

In international markets, Crude prices last traded near 107.3 USD per barrel. MCX Crude future prices are likely to fall further on profit booming and could touch 103-100 levels within next few trading days.

On MCX, Indian commodity exchange, Crude prices are likely to touch levels of 4750-4700 in the coming few trading sessions.

Support for Crude is seen at 4775 and below it; prices can test 4725 while the resistance levels are seen at 4875 and 4925 respectively. Short term range for MCX Crude Apr contract is seen at 4700-4950.


Posted By Commodity MCX Tips