Tuesday, April 3, 2012

MCX Crude Updates (Tips and Trend) For Today: 3rd April '12

Crude Updates, MCX Crude Tips, Crude oil tips, free crude tips, mcx energy tips, free commodity tips, mcx crude intraday

MCX Crude Updates
The customary weakness is likely to find support near 5295 area for a swing higher towards 5330 followed by 5360 region. Break past 5380, could witness prices pushing higher towards 5425/5450. Break below 5270 could see bears taking control towards 5225 territory. Prolonged bearishness could be on cards if splinter below 5180. Crude oil prices rallied more than 2%, after a report showed that manufacturing in the US expanded at a faster pace than expected, signaling steady economic growth in the world’s biggest crude-consuming country.

MCX Crude Oil suggested to have prices reversed after taking support at 5235 levels. MACD is in a buy mode. We expect prices to go up to levels of 5450.

Trading Call: Buy around 5300 levels with a stop loss placed below 5235 levels for targets of 5450 levels.

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