MCX and NCDEX Market Updates – Crude Oil Tips

commodity tips by expertsMCX Update:

Gold has lost 29 points at 28624 while Silver has moved up 201 points at 38886. Menthaoil has dropped 1.07 percent while Cotton has lost 0.29 percent yet.

NCDEX Update: Rmseed is 5 points down at 3750, Sybeanidr has hiked 9 points at 2938 and sugarm lost 10 points at 3650.

Crude Oil prices rose on Friday but were still on track for a second straight weekly loss on concerns that an OPEC-led production cut has failed to significantly tighten an oversupplied market. Such a deal would likely mean an extension of a pledge by the Organization of the Petroleum Exporting Countries (OPEC).

SELL CRUDE OIL MAY IN THE RANGE OF 3125-3120 TARGETS 3070/3020 STOPLOSS 3175 . Technically crude oil is selling on hourly/daily charts while MACD and RSI also indicate good selling opportunity in it. So, traders should go for sell on higher level strategy.

, , , , ,

Post navigation