Tag Archives: mcx hni crude oil update

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MCX Commodity Support & Resistance

MCX Commodity Support & Resistance

MCX Trading as per Support and Resistance Levels is also quite helpful for daily commerce in mcx commodities.

Resistance is termed because the level wherever the artefact usually gets some opposite force before it will go more up.
trading Support is that the level wherever a stock get shopping for interest before it will fall more.
Under the traditional MCX Market conditions or within the absence of some extraordinarily panic news the support and therefore the resistance levels will act nearly as good levels for initiating the buying and selling.
In general, it’s suggested to shop for the stock at support levels and sell at resistance levels.
In Intraday, there square measure few support and resistance levels called  1 Support , 2 Support , 1 Resistance , 2 Resistance , etc.

Intraday MCX Crude Oil & MCX Natural Gas  Support and Pivot Level.


Date : 12-02-2018

Commodity Sup 2 Sup 1 Pivot Res 1 Res 2
MCX Gold 29790 29901 30001 30112 30212
MCX Silver 37240 37411 37710 37881 38180
MCX Crude 3712 3755 3837 3880 3962
MCX Natural Gas 162.1 164.7 169.5 172.1 176.9
MCX Copper 428.6 431.05 434.75 437.2 440.9
MCX Nickel 813.23 823.77 833.13 843.67 853.03
MCX Lead 159.6 161.6 162.65 164.65 165.7
MCX Zinc 214.67 216.63 218.52 220.48 222.37
MCX Aluminium 134.88 135.97 137.83 138.92 140.78

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Oil prices steady ahead of OPEC meeting on supply cut extension

SEOUL (Reuters) – Oil costs control steady in early Asian trade on weekday because the market waited to examine whether or not major oil producers would extend offer cuts on the far side March at a gathering in national capital later within the day.

International benchmark brant crude futures were at $56.40 a barrel at 0046 universal time, down three cents, or 0.05 percent, from their last shut.
U.S. West TX Intermediate (WTI) crude futures were up seven cents, or 0.14 percent, at $50.62 per barrel.
The Organization of the rock oil exportation Countries (OPEC) associate degreed different producers square measure set to fulfill in national capital at 0800 universal time on weekday to debate a potential extension of an oil offer cut deal to hold costs.
There will be some specialise in whether or not Nigeria and Libya, UN agency are exempt from the curbs, can be part of any future cuts. the 2 world organisation members have each been invited to the meeting.
“The market continues to be split on whether or not the meeting can bring recent offer cuts to the table,” ANZ bank same during a note.
“With U.S. stockpiles remaining elevated, a firm signal regarding lower offer is probably going required for worth momentum to stay positive.”
OPEC and a few non-OPEC producers together with Russia initial united in November last year to chop their output by around one.8 million barrels per day (bpd) to clear international oversupply and support costs.
Despite their conjunctive efforts – the combine extended their offer cuts till the top of March – costs have remained depressed amid increasing U.S. boring.
The Energy info Administration (EIA) reportable on weekday that U.S. crude production reached nine.51 million bpd within the week concluded Sept.15, up from 8.78 million bpd every week agone. [C-OUT-T-EIA]

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Global oil rises on U.S. inventory draw as global organization beckons | Reuters

Global oil rises on U.S. inventory draw as global organization beckons | Reuters

Source By. :By Julia Simon
| New York

New York Oil costs rose on weekday when U.S. government information showed a decline in domestic crude inventories and robust purification activity within the world’s largest oil shopper, prior to next week’s meeting of major oil producers.The Energy data Administration aforementioned U.S. crude stocks declined for the sixth straight week. petrol and distillation inventories additionally declined. brent goose crude rose eighty seven cents and stood at $52.52 per barrel by 11:31 a.m. EDT. U.S. lightweight crude rose seventy one cents to $49.37 a barrel.U.S. crude inventories fell by one.8 million barrels for the week to could twelve, but the of two.4 million barrels that had been forecast. however news of a draw upraised costs that had slouched in late commercialism on Tuesday the yank crude oil Institute had reported a incorporate crude stocks for the week.

“The petroleum drawdown unsuccessful some, however the fairly giant rise in industrial plant utilization bodes well for petroleum demand within the coming back weeks,” aforementioned John Kilduff, partner at energy hedge fund once more Capital LLC in big apple.U.S. crude production has climbed ten p.c since mid-2016 to nine.3 million bpd, near prime producers Russia and Asian country.

Matt Smith, director of trade goods analysis at ClipperData, said the U.S. coast LED industrial plant activity higher. “Refinery runs over 750,000 bpd on top of year-ago levels for the U.S. has been enough to start a build – despite stronger imports. A trinity of attracts for crude, petrol and distillates could be a validatory influence for costs.”On could twenty five the Organization of Oil commercialism Countries (OPEC) and alternative key producers can roll up Austrian capital to choose whether or not to increase output cuts of one.8 million barrels per day (bpd) that were to run throughout the primary 1/2 2017. capital of Saudi Arabia and Moscow say they must be extended till March 2018.

OPEC members Kuwait, Iraq ANd Venezuela have supported an extension to the availability cuts. Some analysts have aforementioned a deeper cut might even get on the table at the meeting next week.Jefferies bank aforementioned it absolutely was lowering its oil value forecasts because of the increase in U.S. production, cutting its brent goose value estimate for the last half of 2017 to $59 per barrel from $61 antecedently.North Sea oil output, usually seen in terminal decline, is predicted to leap by a web four hundred,000 bpd within the next 2 years with new comes and bigger efficiencies. (Additional coverage by Sabina Zawadzki in London, Henning Gloystein in Singapore; writing by Elaine Hardcastle and David Gregorio)

This story has not been emended by Firstpost employees and is generated by auto-feed.

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Oil a bright spot in subdued markets as investors get next catalyst

The South Korean market is closed for Tuesday’s presidential election, during which liberal Moon Jae-in is wide expected to win the presidency, following months of leadership vacuum since former President Park Geun-hye was removed in move on charges of graft and abuse of power

Asian stock markets were subdued on weekday, taking their cue from a flat Wall Street, as investors explore forsuccessive catalyst following France’s presidential election, whereas oil inched higher on expectations world organization provide cuts are going to be extended.

The South Korean market is closed for Tuesday’s presidential election, during which liberal Moon Jae-in is wide expected to win the presidency, following months of leadership vacuum since former President Park Geun-hye was removed in move on charges of graft and abuse of power.

The polls opened at half-dozen a.m. (2100 Greenwich Mean Time on Monday) and can shut at eight p.m. (1100 GMT). The winner is anticipated to be sworn in on Wed when the committee releases the official result.

Allies and neighbours area unit closely looking the election amid escalating tensions over North Korea’s fast development of weapons since it conducted its fourth nuclear take a look at in Jan last year. It conducted a fifth take a look at in Gregorian calendar month and is believed prepared for one more.

North Korea would be keen to envision a Moon success. Its official Rodong Sinmun newspaper aforesaid in a verycomment on Monday the time had return to place confrontation behind the Koreas by ending conservative rule the South.

The Korean won was slightly lower on weekday, with the dollar shopping for one,132.08 won.

South Korean stocks closed at a record high on Monday.

MSCI’s broadest index of Asia-Pacific shares outside Japan slipped zero.1 % early weekday.

Japan’s Nikkei was fractionally lower.

The MSCI World index , that touched a record high nightlong, edged lower.

The dollar was additionally very little modified at 113.23 yen, holding most of Monday’s zero.4 % gain.

The dollar index was slightly higher at ninety nine.095.

The monetary unit crawled up zero.1 % to $1.09305 when tumbling zero.7 % on Monday.

“The attention-grabbing and virtually certain value action we have a tendency to saw nightlong was the classic ‘buy the rumour, sell the fact’ situation enjoying move into French and EUR-denominated assets,” Chris lensman, chief strategist at immune serum globulin in Melbourne, wrote in a very note.

French stocks slouching zero.9 % nightlong, as investors took profits following sturdy gains within the run-up to Sunday’s vote that saw the market favorite, centrist Emmanuel diacritical mark, elective president.

Germany’s DAX closed zero.2 % lower, whereas Britain’s FTSE was marginally higher.

On Wall Street, all 3 major indexes closed flat, holding close to recent uncomparable highs. The CBOE Volatility Index closed at nine.77, its lowest since Gregorian calendar month 1993.

“We stay for the most part constructive of the equity market and examine that the trail of elbow grease is higher,” aforesaid Bill Northey, chief investment officer at U.S. Bank’s personal shopper cluster.

In commodities, U.S. crude edged up from a near-six-month low hit last week, raised by statements from major oil manufacturing countries that provide cuts may well be extended into 2018.

U.S. crude advanced zero.3 % to $46.54 a barrel in early trade.

Gold recovered from a seven-week trough touched on Friday as risk assets took a breather. Spot gold rose zero.2 % to $1,227.98 an oz.

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MCX Crudeoil to interchange 3012-3132: MCX Crude Oil Operator

According to Achiievers Equities, crude costs born once knowledge showed a below expected decline in U.S. inventories.

MCX Crude Oil Operators’ goods report on MCX Crudeoil

MCX Crudeoil commercialism vary for the day is 3012-3132.

MCX Crude oil costs born once knowledge showed a below expected decline in U.S. inventories.

U.S. crude stockpiles fell but expected last week, whereas gasolene inventories grew as demand remained weak, the Energy info Administration aforementioned.

OPEC and a number of {other|and several other} other key producers as well as Russia have in agreement to chop output by one.8 mbpd for the primary 1/2 2017 to undertake to scale back a world glut.

SELL MCX CRUDEOIL  @ 3080 SL 3120 TGT 3045-3010


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MCX Crude Oil Live Tips.

Crude oil to interchange 3056-3236: Crude Operator
According to Crude Operator, oil born weighed down by oversupply, however losses were restricted by expectations that major exporters would comply with extend production cuts.


Crude Operator’ goods report on oil
Crudeoil commercialism vary for the day is 3056-3236.
Crude oil born weighed down by oversupply, however losses were restricted by expectations that major exporters would comply with extend production cuts.
Pressure conjointly once news that 2 key oilfields in African nation had restarted, pumping crude for export into AN already puffed market.
Libya’s Sharara field, with a production capability of virtually three hundred,000 bpd, has restarted once the top of protests that had blocked pipelines there.
BUY CRUDEOIL  Above  3120 SL 3080 TGT 3170-3200.

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Crude oil costs gained for a 3rd consecutive week to erase over eightieth of the losses from March. For the last week, costs at MCX registered gains of around one.8 percent.
There was a continuation higher within the half of the week followed by a pointy drop on Wed once the discharge of weekly oil inventories. The Energy info
Administration (EIA) according a attract inventories of two.2 million barrels within the week to Apr seventh that was the primary decline in a very month. Polls were probing for a draw of zero.1 million
Although the yankee fossil oil Institute (API) might have set expectations for a rather larger decline, the API according on late weekday a decline of one.3 million barrels to beat
expectations for a build of zero.1 million barrels.
Oil costs pushed higher on weekday once the International Energy Agency aforesaid world demand for oil is near outstripping provide following nearly 3 years of surplus
production. IEA aforesaid production cuts by major exporters offset a longer-term decline in world demand.
The agency aforesaid oil stocks across industrialised nations fell by seventeen.2 million barrels in March, leading to a rise of thirty eight.5 million barrels, or 425,000 barrels per day, within the 1st
three months of the year.
In November of last year, the Organization of the fossil oil mercantilism Countries and different producers, as well as Russia united to chop output by concerning one.8 million barrels per day
during the primary half 2017.
In a monthly report discharged Wed, international organization aforesaid its output continued to fall in March, however the consortium raised its 2017 forecast for provide growth within the U.S. by 200,000 barrels a
Natural gas costs finished the week lower by one.38 percent.
The latest Energy info Administration (EIA) gas storage knowledge recorded a build of ten Billion cubic feet (Bcf) for the week ending Apr seventh.
This was the second sequential small-scale weekly build and was above accord forecasts of a build of around five Bcf.
Gas inventories square measure sixteen.8% below the year-ago figure, but 14.6% on top of the five-year average and small modified from the metrics seen last week. Overall stocks stay at intervals the 5-
year historical vary.
The latest weather forecasts counsel usually delicate conditions can dominate over consequent week which can tend to curb gas demand, particularly with the air-conditioning not
kicking in nevertheless.


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MCX HNI Crude Oil Update

MCX Crude Oil future were trading higher during afternoon trade in the domestic market on monday as investor and speculators widening their position in the energy commodity amid optimism on efforts by OPEC and other producers to cut output and bring the market into balance.

However, gains were limited as investors gauged whether an increase in the US drilling rings and record stockpiles would undermine efforts by OPEC. Last year, OPEC and other Producers, including Russia, agreed to cut output by almost 1.8 Million barrels per day ( bpd) during the first half of 2017.

At the MCX, Crude oil future for March 2017 contract is trading at Rs. 3625 per barrel, up by 0.58 per cent, after opening at Rs. 3611, against a previous close of Rs. 3604, IT touched the intraday high of Rs. 3628.

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MCX HNI Crude Oil Update

As per MCX www.crudeoperator.com intraday research Mumbai base company report for :

Oil prices rose as OPEC compliance to cuts hit 90%

Oil prices were up more than 1 percent on Friday after the International Energy Agency (IEA) said that OPEC’s supply-cut deal achieved a record initial compliance rate of 90 percent. Oil prices are thus building on yesterday’s rise, driven by a bullish sentiment on the markets. The IEA said that it had estimated OPEC’s crude oil output at 32.1 million bpd in January, with record compliance, and some producers, especially Saudi Arabia, cutting more than pledged. When OPEC decided last November to coordinate an output cut to 32.5 million bpd between January and June, the majority of analysts and experts were skeptical about the cartel achieving a high compliance rate, given its track record of breaching promises and tendency to cheat. OPEC’s average historical compliance rate is around 60 percent. But the latest estimates, 90 percent by the IEA, and 91 percent by S&P Global Platts, suggest that this time around, OPEC may have delivered on its promise, at least for January. Both estimates concur that while some OPEC producers are still above their targeted production level – Iraq, in particular – others, like the cartel’s biggest producer and de facto leader Saudi Arabia, are cutting deeper than required.

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mcx hni crude oil update

mcx crude Oil prices were modestly lower during North American morning hours on Monday, reversing earlier gains as prospects of rising U.S. production weighed on the market. News that the U.S. imposed fresh sanctions on some Iranian individuals and entities, days after the White House put Tehran “on notice” over a ballistic missile test, supported gains. Oilfield services provider Baker Hughes said late Friday that the number of rigs drilling for oil in the U.S. increased by 17 last week, the 13th gain in 14 weeks. That brought the total count to 583, the most since November 2015. The data raised concerns that the ongoing rebound in U.S. shale production could derail efforts by other major producers to rebalance global oil supply and demand. Futures have been trading in a narrow range around the mid-$50s over the past month as sentiment in oil markets has been torn between hopes that oversupply may be curbed by output cuts announced by major global producers and expectations of a rebound in U.S. shale production. January 1 marked the official start of the deal agreed by OPEC and non-OPEC member countries such as Russia in November last year to reduce output by almost 1.8 million barrels per day to 32.5 million for the next six months. The deal, if carried out as planned, should reduce global supply by about 2%.

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