MCX Crude Sinks,live commodity tips today

Crude oil on MCX Opened lower, extended losses and declined near about 1.6 percent against previous closing price.

On Today crude oil reversed and declined sharply as weak Chinese data Oil prices ended mixed gained in the session ending Friday with Nymex crude gaining 1.8% while Brent crude ended 0.9% lower.

MCX Crude oil seems to continuous Decline trading near 3060 on MCX September contract.Currently prices are facing a stiff support at 3010 and resistance at 3150.

MCX Commodity Tips Today

MCX CRUDE OIL SEPTEMBER SELL BETWEEN 3058-3060, TARGET 1- 3041, TARGET 2- 3019 STOPLOSS: 3095 ,

BUY GOLD - OCTOBER (MCX)@ 26580.00, Target: 26670.00, Stop-loss: 26540.00

Crude Oil Forecast of 01 Sep 2015 Trading Down Nearly 3 Percent

As the extreme volatility in Indian Share Market  stuffing out the equities and commodity market, yet another classic volatile  sentiment driven selloff in the oil futures space in downtrend.

Despite the fall in nearly 3 percent in Asian trade on Tuesday Both Brent and U.S. crude prices dropped nearly $2 a barrel before partly recovering later in the session.

By 0341 GMT Brent crude for October delivery had dropped $1.50 to $52.65 a barrel, or 2.8 percent, after climbing $4.10, or 8.2 percent, in the previous session. It dropped by $1.99 a barrel earlier in the session.

U.S. crude for October delivery dropped $1.51, or 3 percent, to $47.69 a barrel, after it settled up $3.98, or 8.8 percent in the previous session. It earlier dropped by $1.97 a barrel.

At the MCX, Crude oil futures, for the September 2015 contract, closed at Rs 3,230 per barrel, up by 7.5 per cent, after opening at Rs 2,993, against the previous close price of Rs 3,005. It touched an intraday high of Rs 3,260.

MCX Crude Oil Tips Today

SELL CRUDE SEPTEMBER MCX BELOW 3162 ABOVE 3242 TARGET 3132, 3070