Wednesday, October 5, 2011

Commodity Crude Updates: Evening Trading Strategy

Crude oil prices managed to recover today and now heading towards 4000 mark. If crude Oil moves above 4030 level it may further extend its rally towards 4055-4100 but before this, an uncertainty is expected due to weak global cues and increasing strength of dollar prices. A dip towards 3800-3750 may be occurred during evening trades before the actual rally would take place. But a trades below 3700 may invite more downfall. Traders are advised to Buy crude above 4030 for the targets of 4055-4100. On the downside one may go for fresh buying around 3790.

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Posted By Commodity MCX Tips