Crudeoil trend 28/03/2013

Trend updated for-Mar/28/2013.CMP-5261 The Crudeoil is in perfect uptrend .Currently Crudeoil is in strong uptrend and the trend is supported with good volume The open interest is not increasing with trend . In last few days lot of positive accumulation happened in the Crudeoil Cautious point is buying at higer levels seems decreasing. The oscillator is showing BUY signal For short term The current position is BUY .Positionally Support for the Crudeoil is 5098-5092-5089-5064-5029-5015-. Immediate resistance for Crudeoil is 5289

Currently Crudeoil is in HOLD LONG position In short term Crudeoil is in strong up trend so hold with stop at 5164 The Crudeoil is now trading in highly overbought level. The oscillator is showing BUY signal
Intraday Trend- Buy is advised above 5298 with a stop at 5237.3 Below 5224.1 go for sell with a stop at 5284.8

Intraday Resistance of CRUDEOIL are 5287.4/5309.4/5339.6/5358.9/5395.6/5432.4
Intraday Support of CRUDEOIL are 5234.6/5212.6/5160.5/5141.5/5105.8/5070.1

Crude Oil news

Crude Oil: Today morning, oil prices are trading at $94.7/bbl (-0.07%) in international market. This might be a technical correction on oil prices driven by Euro-zone economic concern related to Cyprus bailout. Most of the Asian equities and other asset classes are trading down on fear that the bank restructuring plan to be employed in Cyprus could be used in other European nations which will lead to lower liquidity. As we proceed for the day, we expect oil prices to recover from its marginal loss and trade on higher side with an eye on BRIC summit starting from today. The group of leading emerging markets (Brazil, Russia, India, China and South Africa) is expected to establish a development bank that will aim at reforming the existing political and economic world order. Secondly, Bank of Japan have kept the long term bond buying options with 2% inflation target to be achieve in two years. Thus, speculation of easing from Japan may continue to support oil to take positive cues. There are no major economic releases scheduled from Euro-zone today. So, concern related to Cyprus bailout may limit gains in oil prices during European hours. From the US, economic releases in the form of durable goods orders, manufacturing index and new home sales may show a sign of positive growth in economy. This may support oil prices to trade on a positive trend during the US hours. Technically, we suggest remaining on buying side for the day

Trading tips for crude, nickel & aluminium

Ravindra Rao of Motilal Oswal Commodities suggests selling nickel. Rao says, "We expect prices might come up towards Rs 938 per kilogram levels, which can be used as a selling opportunity and on the upside the resistance is at Rs 952 per kilogram, which can be maintained as a strict stop loss. We expect prices might once again come lower till Rs 910 per kilogram."

Priyank Upadhyay of SSJ Finance & Securities recommends selling natural gas around Rs 217 per kilogram with a stop loss above Rs 221 per kilogram and targets of around Rs 210 per kilogram.

Dharmesh Bhatia of Kotak Commodities advocates buying aluminum. "Any decline towards Rs 110 per kilogram and below is a good level to accumulate maintaining a stop loss of Rs 100 per kilogram and hold long for target of around Rs 104-105 per kilogram," Bhatia adds.

Crudeoil trend 26/03/2013

Trend updated for-Mar/26/2013.CMP-5157 The Crudeoil is in perfect uptrend .Currently Crudeoil is in strong uptrend and the trend is supported with good volume The open interest is not increasing with trend . Cautious point is buying at higer levels seems decreasing. The oscillator is showing BUY signal For short term The current position is BUY .Positionally Support for the Crudeoil is 5089-5080-5056-5028-5014-5008-. Immediate resistance for Crudeoil is 5219

Currently Crudeoil is in HOLD LONG position Crudeoil has crossed the high but the trend was not strong and sellers was at high so for short term better buy above 5202.1 with stop at 5036.0 The oscillator is showing BUY signal

Intraday Trend- Buy is advised only above 5202.1 with a stop at 5129.4 Below 5112.1 go for sell and put stop at 5184.7
Intraday Resistance of CRUDEOIL are 5202.7/5240.7/5301.3/5337.8
Intraday Support of CRUDEOIL are 5111.3/5073.3/5014/4978.7

Crudeoil Crudeoil 25/03/2013

Trend updated for-Mar/25/2013.CMP-5089 The Crudeoil is in long- short-medium- short- term bull phase .Currently Crudeoil is in strong uptrend and the trend is supported with good volume The open interest is not increasing with trend . Cautious point is buying at higer levels seems decreasing. The oscillator is showing BUY signal For short term The current position is BUY .Positionally Support for the Crudeoil is 5029-5010-5004-5001-.Resistance for the Crudeoil is 5115-5131-

Currently Crudeoil is in HOLD LONG position Crudeoil has crossed the high but the trend was not strong and sellers was at high so for short term better buy above 5133.5 with stop at 4973.0 The oscillator is showing SELL signal
Intraday Trend- Buy is advised only above 5133.5 with a stop at 5061.7 Below 5044.7 go for sell and put stop at 5116.3

Intraday Resistance of CRUDEOIL are 5112.7/5132.3/5168.5/5187.5/5223.5/5259.7
Intraday Support of CRUDEOIL are 5065.3/5045.7/4992.3/4973.7/4938.5/4903.4

Crudeoil trend 22/03/2013

Trend updated for-Mar/22/2013.CMP-5053 The Crudeoil is in long- short-medium- short- term bull phase .Currently Crudeoil is in strong uptrend with good momentum and the trend is supported with good volume The open interest is not increasing with trend .. The oscillator is showing BUY signal For short term The current position is BUY .Positionally Support for the Crudeoil is 5020-5016-5000-4995-.Resistance for the Crudeoil is 5112-5132-

Currently Crudeoil is in HOLD LONG position Crudeoil is moving sideways so short term investor better to buy only above 5166.0 or hold with stop at 4973.0 The oscillator is showing SELL signal

Intraday Trend- Buy is advised above 5081.2 with a stop at 5033.9 Below 5024.8 go for sell
Intraday Resistance of CRUDEOIL are 5087/5115.2/5150.7/5169.6/5205.6/5241.8
Intraday Support of CRUDEOIL are 5019/4990.8/4956.2/4921/4886

Buy around 5050 with SL 5000, for the target of 5110 & 5160

MCX Crude oil April contract is looking positive for the day. Market may find support near 5050 & 5000; intraday resistance can be seen near 5110 & 5160. Day traders are advised to buy intraday on dips. (Buy around 5050 with SL 5000, for the target of 5110 & 5160.)

Crudeoil news

Trend updated for-Mar/21/2013.CMP-5087 The Crudeoil is in long- short-medium- short- term bull phase .Currently Crudeoil is in strong uptrend with good momentum and the trend is supported with good volume The open interest is not increasing with trend . Cautious point is buying at higer levels seems decreasing. The oscillator is showing BUY signal For short term The current position is BUY .Positionally Support for the Crudeoil is 5021-5012-4997-4992-.Resistance for the Crudeoil is 5109-5135-

Currently Crudeoil is in HOLD LONG position Crudeoil is moving sideways so short term investor better to buy only above 5166.0 or hold with stop at 4973.0 The Crudeoil is now trading is approaching overbought level. The oscillator is on SELL signal and Crudeoil is coming down from overbought level

Intraday Trend- Buy is advised above 5115.4 with a stop at 5067.7 Below 5058.6 go for sell
Intraday Resistance of CRUDEOIL are 5135.2/5175.2/5218.1/5254.3/5290.6
Intraday Support of CRUDEOIL are 5038.8/4998.8/4968.4/4933.2

Crudeoil news and trend

Energy: Domestic crude oil futures were trading higher due to depreciation in rupee against the dollar and tailing mild upward recovery in benchmark contracts on the New York Mercantile Exchange. The upward recovery in NYMEX crude oil futures, however, was restricted, as market is awaiting release of key weekly US oil inventory report on Wednesday.
 MCX Crude oil April contract is looking positive for the day. Market may find support near 5070 & 5020; intraday resistance can be seen near 5140 & 5210. Day traders are advised to buy intraday on dips. (Buy around 5070 with SL 5020, for the target of 5140 & 5210.)

Crudeoil trend 20/03/2013

Trend updated for-Mar/20/2013.CMP-5087 The Crudeoil is in long- short-medium- short- term bull phase .Currently Crudeoil is showing some up move after small correction and trend is strong momentum is also showing strength and supported with good volume The open interest is not increasing with trend . Caution note buying at higer levels seems decreasing. The oscillator is showing BUY signal For short term The current position is BUY .Positionally Support for the Crudeoil is 5021-5012-4997-4992-.Resistance for the Crudeoil is 5109-5135-

Currently Crudeoil is in HOLD LONG position Crudeoil is moving sideways so short term investor better to buy only above 5166.0 or hold with stop at 4973.0 The Crudeoil is now trading is approaching overbought level. The oscillator is showing SELL signal

Intraday Trend- Buy is advised above 5115.4 with a stop at 5067.7 Below 5058.6 go for sell
Intraday Resistance of CRUDEOIL are 5135.2/5175.2/5218.1/5254.3/5290.6
Intraday Support of CRUDEOIL are 5038.8/4998.8/4968.4/4933.2

Crudeoil Trend

Trend updated for-Mar/19/2013.CMP-5056 The Crudeoil is in long- short-medium- short- term bull phase .Currently Crudeoil is showing some up move after small correction and trend is strong and supported with good volume The open interest is not increasing with trend . Caution note buying at higer levels seems decreasing. The oscillator is showing BUY signal For short term Crudeoil is in HOLD LONG position.Positionally Support for the Crudeoil is 5026-5001-4994-4987-.Resistance for the Crudeoil is 5104-5136-

Currently Crudeoil is in HOLD SHORT position The Crudeoil is in downtrend For short term buy only if close above 5065.0 The Crudeoil is now trading is approaching overbought level. The oscillator is showing BUY signal
Intraday Trend- Buy is advised above 5084.3 with a stop at 5036.8 Below 5027.8 go for sell
Intraday Resistance of CRUDEOIL are 5081.8/5107.7/5150.6/5174.5/5210.6
Intraday Support of CRUDEOIL are 5030.2/5004.3/4961.4/4925.8/4890.8/4855.9

Crude oil futures trim losses; Cyprus bailout vote awaited

 Crude oil futures came off the lowest levels of the session during U.S. morning hours on Monday, as concerns that a controversial bailout deal for Cyprus could destabilize financial markets in the euro zone eased Oil prices struggled due to a stronger U.S. dollar, as dollar-priced commodities become more expensive to investors holding other currencies when the greenback gains.

The dollar index, which tracks the performance of the greenback against a basket of six other major currencies, was up 0.5% to trade at 82.77. On the New York Mercantile Exchange, light sweet crude futures for delivery in April traded at USD93.20 a barrel during U.S. morning trade, down 0.3% on the day.

New York-traded oil prices fell by as much as 1.8% earlier in the session to hit a daily low of USD91.79 a barrel. Nymex oil prices rose to USD93.82 a barrel on Friday, the strongest level since February 25.

Oil prices came off the lows as market sentiment stabilized following reports that the government in Cyprus was preparing a new deposit tax proposal to lessen the impact on smaller depositors. State media reported that a parliamentary vote on the levy was to be postponed until Tuesday.Oil prices were deeply in the red earlier as appetite for riskier assets weakened broadly following news that a one-time tax was to be imposed on bank deposit holders as part of a EUR10 billion bailout deal for Cyprus.

In exchange for the rescue money, international creditors would impose a one-time tax of 6.75% on all bank deposits under EUR100,000 and 9.9% over that amount. The agreement marked the first time since the onset of the euro zone debt crisis that depositors have been forced to take a haircut in return for financial aid.

Elsewhere, on the ICE Futures Exchange, Brent oil futures for May delivery shed 0.5% to trade at USD109.20 a barrel, with the spread between the Brent and crude contracts standing at USD16.00 a barrel.

Crudeoil updates

Dani Commodities has come out with its report on crude oil and other commodities. According to the research firm, one can sell MCX Crude oil at Rs 5021 with a stop loss of rs 5041 for the target of Rs 4990.

Crude oil futures plummeted sharply in the electronic trading Monday pressured by losses in the Asian equities and the US stock futures on details of a bailout of Cyprus over the weekend, which fretted investors about the potential implications of a decision to levy private bank deposits.

The losses for Asian stocks and the euro came after Cyprus announced plans for a one-off levy on bank deposits in exchange for equity in the banks as part of a deal that would have international creditors provide 10 billion euros ($12.9 billion) to shore up the island nation’s finances.

Under the bailout, Cyprus would also sell government assets, raise corporate tax rates and impose a tax on interest earned in Cypriot banks.

Japan’s Nikkei Stock Average fell 1.8%, South Korea’s Kospi lost 0.7%, and Australia’s S&P/ASX 200 index fell 1.5%. Among U.S. index futures, the Dow Jones Industrial Average contract traded 116 points, or 0.8%, lower at 14,317. Nasdaq futures fell almost 29 points, or 1%, to 2,761.75, while those for the S&P 500 lost 16.6 points, or 1.1%, to 1,537.

Light sweet crude futures for delivery in April tumbled below $93 down more than 1% in the morning electronic trades on the New York Mercantile Exchange Monday. On Friday, it settled up 0.6% at $93.58 a barrel by close of trade.

MCX CRUDE OIL

International: Major Support for WTI at USD89 Bullish above USD 91
Domestic: Sell at 5021, Stoploss 5041, Target 4990.

MCX NICKEL

Domestic: Sell at 902.50, Stoploss 909, Target 894

MCX GOLD

International: Major Support at USD1580. Bearish below USD1580.
Domestic: Buy at 29480, Stoploss 29420, Target 29560

MCX SILVER

International: Major Support at USD29. Bearish below USD29.
Domestic: Buy at 54180, Stoploss 53900, Target 54400.(MONEY CONTROL)

Buy MCX Crude Oil at Rs 4980: Dani Commodities

Dani Commodities has come out with its report on Crude Oil. According to the research firm, one can buy MCX Crude at Rs 4980 with stoploss of Rs 4960 for a target of Rs 5010.

Crude oil futures dropped in the Asia electronic session today as the investors booked some profits after the commodity surged more than 1 % yesterday night. Oil futures climbed more than 1% Thursday to settle at their highest level of the month, as weakness in the dollar, easing worries over the euro zone and better-than-expected U.S. data combined to lift the outlook for energy demand. Crude oil for April delivery is trading down 24 cents at $ 91.32 per barrel on the New York Mercantile Exchange.

Yesterday, it gained $1.13, or 1.3%, to settle at $91.56 a barrel, climbing back from Wednesday’s 39-cent loss. That was the highest close for a front-month contract since Feb. 28. Strength in the euro in the wake of policy decisions by the Bank of England and European Central Bank and remarks from the ECB’s president on the euro zone helped feed a decline in the U.S. dollar.

The ECB kept rates unchanged at 0.75% and the BOE stood pat at 0.5%, making no changes to its quantitative-easing program. In a news conference, Draghi played down the threat to euro-zone stability posed by Italy’s inconclusive election results. That, in turn, helped boost the view for energy demand in the region. The death of Venezuelan President Hugo Chávez on Tuesday, meanwhile, has had little direct impact on the oil market, though some analysts say that in the long term, the nation’s oil market may benefit from a change in government.

MCX Crude Oil: Buy at Rs 4980, SL-Rs 4960, target-Rs 5010.