Insignia Consultants
New Delhi
Wednesday, July 17, 2019
TIME 9:07AM
IST
------------------------------------------------------------------------------------------------------------------------
MCX CRUDE OIL
REPORT
Crude oil and NG are fundamentally bearish. There is no
supply side disruptions at the moment at the moment. Reduced crude oil
production in the Gulf of Mexico can result in lower US weekly crude oil
inventories today.
The next two days very crucial for crude oil from a technical
perspective.
Crude
oil 19th July 2019: (previous day close/CMP Rs.3964)
- 3987 price target
achieved.
- Key support is at 3905.
Crash will be there below 3905 to 3826 and 3725.
- Immediate resistance is
at 4011. Crude oil needs to break and trade over 4011 to be in intraday
bullish zone.
Natural
gas 26th July 19 (previous day close/CMP Rs.160.30):
- Crash will be there
below 157.10.
- Trend is down at the
moment.
- However if NG does not
fall below 157.10 today, then it will rise to 171.10 and 176.
Disclaimer: Any opinions as to the commentary, market
information, and future direction of prices of specific currencies, metals and
commodities reflect the views of the individual analyst, In no event shall
Insignia Consultants or its employees
have any liability for any losses incurred in connection with any
decision made, action or inaction taken by any party in reliance upon the
information provided in this material; or in any delays, inaccuracies, errors
in, or omissions of Information. Nothing in this article is, or should be
construed as, investment advice. All analyses used herein are subjective
opinions of the author and should not be considered as specific investment
advice. Investors/Traders must consider all relevant risk factors including
their own personal financial situation before trading.Website www.insigniaconsultants.in.
Prepared by Chintan Karnani
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NOTES TO THE ABOVE
REPORT
ALL VIEWS ARE INTRADAY
UNLESS OTHERWISE SPECIFIED
PLEASE NOTE: HOLDS MEANS HOLDS ON DAILY
CLOSING BASISPLEASE USE APPROPRIATE STOP LOSSES ON INTRA DAY TRADES TO LIMIT LOSSES.
ALL PRICES ARE IN INDIAN RUPEE UNLESS OTHERWISE SPECIFIED
APPROPRIATE STOP LOSSES PER LOT IN INDIAN RUPEEES ON THE TRADING CALLS GIVEN IN THIS REPORTTHE TIME GIVEN IN THE REPORT IS THE TIME OF COMPLETION OF REPORT
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