Mcx Crude Oil Report: 31st October 2019

Insignia Consultants

New Delhi

Thursday, 31 October 2019

TIME 9:04 AM IST                         

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MCX CRUDE OIL REPORT

Crude oil will break free from $52-$60 wider trading range and form a new range. Optimism that a trade deal between USA-China will happen in November is preventing crude oil from a crash.  Demand-China equilibrium needs to be closely watched now in energies.

Crude oil 19^th November 2019: (previous day close/CMP Rs.3909.00)

Small sell off below: 3860

Quick rise over: 3930

1. Key support till Monday is at 3813.
2. Crude oil needs to trade over 3813 till Monday to rise to 4047 and 4200.
3. Short term bearish trend will be there only below 3813.

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. Websitewww.insigniaconsultants.in. Prepared by Chintan Karnani

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NOTES TO THE ABOVE REPORT

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