Intraday Commodity tips, MCX crude oil tips, MCX Gold Silver tips, Daily Commodity tips, Base metals tips, NCDEX tipsMCX Crude oil tips
MCX Crude oil futures traded down in Asia after the inventor showed a higher than expected rise in the inventories last week. The Commitments of The Energy Information Administration reported an increase of 4 million barrels in crude supplies for the week ended April 20. Analysts polled by Platts had expected an increase of 1.5 million barrels. The EIA also reported gasoline inventories down 2.1 million barrels in the week, and stockpiles of distillates down 3.2 million barrels.
MCX crude may open near Rs 5490 levels today with support around Rs 5470 levels and resistance near Rs 5520 levels.
MCX Silver tips Silver has a main support at Rs 55,000 per kilogram. He says that if prices are able to break these levels then a sharp correction can be seen till Rs 53,000 per kilogram. Stop loss 56200 per kilogram and down side targets of Rs 55,200 per kilogram.