Brentoil cmp 112.81 is a good news for india that crudeoil has given rising channel breakdown now weekly close below 112 it opens for 97 as immediate downside levels and below 97 can fall till 66 levels also.
Brentoil is good only and only once it crosses and closes above 126$ levels and in such case it can again head towards upside 140 to 160$ but till its below 126$ now its heading downside towards 97 & 66 levels in coming months.
Oil Remains Volatile on Economic Concerns
WTI crude futures held around $109.5 per barrel on Monday after a sharp drop in the previous session, with volatility set to continue as investors weighed concerns about slowing global economic growth and fuel demand against expectations of higher near-term demand.
The US oil benchmark tumbled almost 7% on Friday as concerns about the economic fallout from higher interest rates rattled financial markets. Last week, the Federal Reserve led a global wave of monetary tightening by raising its benchmark rate by 75 basis points to combat surging inflation, stoking fears of a possible recession.
Make money using our bank nifty option tips and MCX crude tips on a daily basis.
Paint stocks : asianpaint, bergerpaints poised for 5 to 10% bounce in next couple of days courtsey crash in cruideoil.
The crash in crude help these stocks to get some breath and too cool off its oversold RSI and may give decent 5 to 10% bounce from current market price (CMP)
You
should Trade Less But Trade Accurately & this is Achieved with our Tip.
