Friday, 23 May 2014

CAPITAL STROKE COMMODITY UPDATE 23 MAY 2014:: MCX CRUDE OIL

CRUDE OIL: - CONSOLIDATE STRATEGY BUY ON DIPS R2-6200 R1-6140 S1-6030 S2-5950
Crude oil dropped as investors took profit on a rally that was driven by ongoing violence in Libya and positive economic data in China and the United States.
The oil market has also been supported by the conflict in Ukraine - a main gas supply route for Europe from Russia.
The ongoing conflict in Libya underpinned prices as the OPEC member's major western oilfields were still closed.


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