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MTECHTIPS;-Crude oil to trade in 3534-3662 range: Achievers Equities

Tuesday, February 7, 2017 5:31

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MTECHTIPS;-Crude oil to trade in 3534-3662 range: Achievers Equities

MTECHTIPS- Crude oil trading range for the day is 3534-3662. Crude oil dropped as ample U.S. supplies and excess speculative length outweighed OPEC output curbs and rising tensions between US and Iran. Beyond rising drilling activity, there are also concerns that U.S. gasoline consumption, a key pillar for crude oil demand, is stalling. BMI Research said that around 6 percent of Chinese refining capacity would shut down at some point during the first half of the year. SELL CRUDE OIL FEB 2017 @ 3600 SL 3640 TGT 3565-3525 .MCX.

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