2025-04-30 22:18:28
Latest Post
Monarch Networth Capital IFSC Pvt. Ltd. receives Registered Fund Management Entity (Retail) License from IFSCA, GIFT City
Lucent Industries Ltd enters into partnership agreement with Clusterdev Technologies Pvt Ltd
South Indian Bank hosts Season 1 of National Co-lending Summit - SEED
Inox Green signs agreement for O&M of 675 MWp of solar projects
Union Bank of India Launches MSME & CASA Outreach Programs to pass on benefits of back to back RBI-MPC rate cuts and Deepen Customer Engagement
Commodities
Crude Oil - May 21, 2021 - Reliance Securities
Posted On : 2021-05-23 11:17:42( TIMEZONE : IST )
Mr. Sriram Iyer, Senior Research Analyst at Reliance Securities
International oil prices are trading marginally in the red on Friday early afternoon trade in Asia as investors brace for the return of Iranian crude supplies after progress was made toward a deal to lift U.S. sanctions on Iran.
Nevertheless, investors remain upbeat about fuel demand recovery in Europe and the United States would allow more people to travel, at the same investors will be cautious by rising cases across parts of Asia which could dent demand for the fuel.
Technically, WTI Crude Oil is trading below 21 as well as 50-Daily Moving Average at $62.60 level indicating a sideways to bearish momentum up to $61.00 level. Resistance is at $63.00.
Domestic crude oil prices are trading in the red on Friday early afternoon trade, tracking overseas prices.
Technically, if MCX Crude Oil June continues below 4600 level we could witness a Bearish momentum up to 4522-4470 level. Resistance is at 4577-4635 levels.
Disclaimer: The recommendations, if any, made herein are expression of views and/or opinions and should not be deemed or construed to be neither advice for the purpose of purchase or sale of any security, derivatives or any other security through RSL nor any solicitation or offering of any investment /trading opportunity on behalf of the issuer(s) of the respective security(ies) referred to herein. These information / opinions / views are not meant to serve as a professional investment guide for the readers. No action is solicited based upon the information provided herein. Recipients should rely on information/data arising out of their own investigations. Readers are advised to seek independent professional advice and arrive at an informed trading/investment decision before executing any trades or making any investments. While due care has been taken to ensure that the disclosures and opinions given are fair and reasonable, none of the directors, employees, affiliates or representatives of RSL shall be liable for any direct, indirect, special, incidental, consequential, punitive or exemplary damages, including lost profits arising in any way whatsoever from the information / opinions / views contained herein.
