Goldman Sachs: Reduced its estimate on crude oil, Crude Tips

crude oilCrude oil strengthened in domestic market, but in WTI and Brent slow in global market. At MCX Crude Oil November future traded at Rs 4988 up 0.40% and Natural Gas traded at 223.10 with 1.18% gain.

Goldman Sachs estimates WTI Crude may slip $75 and Brent Crude Price may drop up to $85 in firs quarter of next year. While if non OPEC countries supply continues than in second quarter Brent crude price decrease up to $80, the WTI is estimated to fall $70.

MCX Crude Oil 19NOV2014 Buy above 4990 target 5024.66 stop loss 4974.

MCX Natural Gas 28OCT2014 Buy above 224 target 228.03 stop loss 219.

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