Thursday, 7 August 2014

CAPITAL STROKE UPDATE 7-August-2014 : MCX CRUDE OIL



CRUDE OIL:- CONSOLIDATE STRATEGY BUY ON DIPS R2-6100 R1-6020 S1-5880 S2-5800
Crude oil futures rose in the domestic market on Thursday as investors and speculators booked fresh positions in the energy commodity ahead of Chinese trade data which may signal strength in the world’s second biggest crude oil consumer. China’s exports may have risen by 7.3 per cent in July 2014 over the same month a year ago, data may show tomorrow.

A dip in US crude and gasoline stockpiles last week signaled a pickup in fuel demand in the world’s biggest crude oil consumer, lifting prices. At the MCX, Crude Oil futures, for the August 2014 contract, is trading at Rs 5,968 per barrel, up by 0.18 per cent, after opening at Rs 5,964, against a previous close of Rs 5,957. It touched an intra-day high of Rs 5,969

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