Last Updated : July 30, 2010 17:25
Crude oil steadies above $77 on equities
Fundamental View
Crude oil futures traded steadied above $77 after rising on previous trading session on positive equity indices supported by better economic outlook on slightly improved jobless data from US.
Investors are paused for today's important data of US GDP and personal consumption as the evidence of continuing trend for economic recovery.
Natural gas futures witnesses heavy buying traded above $4.850 after EIA reported smaller than expected inventory build in its weekly storage report. Natural gas stockpiles rose by 28 Bcf against expectation of build of 32 Bcf compare to prior increase of 51 Bcf.
Technical View
The strong resistance for crude oil lies at $80 with support at $76, MCX Crude oil (July) resistance lies near 3680 with support at 3560.
MCX Natural gas (July) resistance at 230, support at 223.
Courtesy: Anagram Comtrade Limited
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MCX SILVERMICRO 29 February 2012
contract was trading at
Rs 53769 , up Rs. 269 . What's your view on it?
