MCX Crude Oil News: Prices Likely to Fall Further

Crude Oil Prices had to face a sell off today and its most active contract August Futures declined more than 1.5%. The contract opened with negative bias at 4410 and the same was the day high for it. 

In MCX India, crude oil may see some more decline and prices may drag down to 4200-4150 levels in short term. The nearest support is seen near 4310 below which it can touch 4250-4210 levels.

To recover the buying momentum, 4425 will be the requisite level.  

Read more »

MCX Copper and Crude Oil Trading Tips

Copper (May Futures): Sell - 415, SL - 422 and the target - 407-401


Crude Oil (May Futures): Buy - 4990, SL - 4900 and Target - 5070-5120

Read more »

MCX Crude Oil Updates- Crude Oil May fall Further

In international markets, Crude prices last traded near 109.5 USD per barrel. Crude prices are likely to fall in short term and may touch 103-100 levels within next few trading days.

On MCX, Indian commodity exchange, Crude prices are likely to touch levels of 4800-4720 in the coming few trading days.

Support for Crude is seen at 4850 and below it; prices can test 4775 while the resistance levels are seen at 4950 and 5025 respectively. Short term range for MCX Crude Apr contract is seen at 4700-5000.

Read more »

MCX Updates: Gold and Crude Down

Gold yesterday ended down in tandem with falling Crude oil prices, as safe-haven bids faded. Crude oil prices ended at 4898 rupees per BBL after touched weekly high level at 5021 rupees.

The war premium in the metals seems to have diminished as news that a possible ceasefire in Libya and the willingness to negotiate a settlement is putting pressure on the commodity market.

On Tuesday, Gold June delivery contact drop by 0.23 percent to 21270 rupees per kilogram. Amid falling metals and silver prices, Gold future remained under pressure in intraday trades.

Instant Support for Gold future seen to be at 21270 and below it may test 21250 rupees. Resistance is now likely to be seen at 21420, a move above could see prices testing 21470.

Read more »

MCX Tips For 9th March 2011

MCX Gold – Apr  Buy at 21050 TG- 21100-21200 SL-20980

MCX Silver – May  Buy at 53800 TG 54000-54400 SL 53500

MCX Crude Oil – Mar  Buy at 4755 TG 4795-4820 SL-4675

MCX Copper – Apr  Sell at 432 TG 425 SL-434

MCX Natural Gas - Mar  Buy at 175 TG 180 SL-173

Read more »

MCX Crude Oil Update and Trading Tips

Crude Oil rose slightly in Asian trade on Wednesday as traders stayed marginally ahead of a closely watched inventory report on US energy supplies.

On Wednesday MCX Crude oil futures opened nearly unchanged at Rs 3670 per barrel reflecting trends in overseas markets. Crude oil challenge resistance around 3980 and 4000 to move higher, or test support at 3950, to break out of its range.

Oil prices stays edged higher today on expectations of a drawdown in inventories, signifying higher demand for Crude Oil in international market.

Overall trend seems to be upside in Crude Oil but EIA inventory due tonight, will give confirmation for advanced trends for coming days. Traders are advised to be cautious on every low before taking any fresh long position

Read more »

Crude Oil Updates-MCX Crude Likely To Fall

MCX Crude Feb contract closed on Friday at 4107, up by 140 rupees against previous close of 3967. The contract opened up at 4125 made an intraday high at 4164 and last traded at 4096 down by 21 rupees after touch an intraday low of 3958.

Crude future prices are likely to fall from the present levels on the back of profit booking and could touch 4025-3970 levels within next few trading sessions.

Support for Crude is seen at 4050 and below it; prices can test 3990 while the resistance levels are seen at 4150 and 4215 respectively. 14 days RSI for MCX Crude Feb contract is at 51 levels, which shows that Crude prices are trading sideways.

Short term range for MCX Crude Feb contract is seen at 3900-4150. Positional traders can Sell MCX Crude Feb contract near 4175 keeping a stop loss of 4225 and can wait for the targets of 4100-4050.

Read more »

Intraday MCX Tips

Sell Silver MCX (March ) at 43300 TG-43000 SL-43150

Read more »

Support and Resistance for MCX Crude Oil

Support for Crude is seen at 3940 and below it; prices can test 3875 while the resistance levels are seen at 4050 and 4100 respectively. Short term range for MCX Crude Feb contract is seen at 3900-4150. Positional traders can Buy MCX Crude Feb contract near 3970 keeping a stop loss of 3925 and can wait for the targets of 4040-4075 .

Read more »

MCX Crude Oil (Feb) Positional Call

MCX Crude Oil Short Term range seems to be 4050 -4250. Investors (Positional Traders ) can long MCX crude oil (Feb) near around 408-40900, for the targets of 4180-4230 with strict stoploss of 4035.

Keep Visiting MCX Tips Blog for daily commodity market updates.

Read more »

Crude Oil near 91 doller/barrel

Crude oil has reached the highest level of 2 years. At NYMEX oil prices have been crossed   $ 90 a barrel . In U.S. and Europe because of the strong cold falling demand for crude oil has increased. On the other hand news of low crude oil stocks in US has also resulted in the rise of crude oil price . According to the U.S. Energy Department  crude oil stock has reached it  10 months lowest level.

MCX Crude oil also sustaining the level of 4100/ barrel due to boom in international market. 

Read more »

Crude Oil and Nickel Calls

Sell Crude November @ 3680-3685 TG-3645-3630 SL-3701.00

Sell Nickel October  @1025-1028  TG-1007-1001 SL-1035.00

NCDEX Chana (November Futures): Sell - @ 2420, SL-2455 and target - 2370

Cotton MCX (April Futures): Buy - 740, SL - 734 and target - 755

Read more »

Crude Oil Updates - Evening Round Up

Currently, oil prices are trading slightly higher at around 83.48 but at MCX futures oil is trading flat at 3689. There is a slight deviation between two exchange's oil future prices due to domestic currency Indian rupee appreciation. Moreover, the gains have been slightly eroded from its day's high. This is because of profit booking situation in European equity markets. This is also important to look at that, in the morning oil prices were trading higher mostly taking cues from negative API inventory figure. Now the prices are trading with a marginal change and waiting for DOE inventory data. Any substantial change in inventory figures may have an impact on prices. Though, we are not betting on inventory figures. US equity market traded firm on yesterday and some profit booking can be observed on today’s trading session however, losses are likely to be limited and this may support oil to move higher. Meanwhile, the important supporting factor is US dollar. The dollar index is trading lower and likely to correct further expecting weaker economic data. Overall, oil prices may primarily trade lower in U.S market and later on likely to recover.

Read more »