May 07, 2011

Commodity Crude Oil Day Trend 07 May

The commodity MCX contract of Crude Oil Futures for May is closed on Thursday at a price of 4577 rupees per barrel and Showed a Downfall of 6% in the market. The commodity contract opened this morning at a flat  price of 4975 Rs and made the intraday high with same level with a last traded price of 4444 Rs which is Fall by 133 rupees after an intraday low of 4219.

The Commodity International market prices for crude are seen at a last traded price of 99.4 USD per barrel. The commodity crude oil in are likely fall further in terms of dollar due to weak global demand cues and expected to touch 97-94 levels in the near future.

At MCX India the commodity crude prices are likely to touch levels of 4290-4220 in the coming few trading days.

Crude Oil MCX: Support 4400 can test levels of 4325 

                          Resistance at R1 4525 ,R2 4625.
                          May Contract seen At 4200-4700.

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