CO:Crude Oil may move up on short supply from Iran
Ahmedabad : WTI Crude opened at 99.38 as compared with previous close of 99.6. Crude prices are constantly going up since the tensions are going among Iran and Western countries and US economical data's are coming positive in majority.
WTI Crude made a low of 92.71 before 5 days and it is moving up since the forming that bottom, next resistance is looking at 102 closing above the level may tend crude to touch 110 in near term.
Traders may enter in buying position around Rs. 5176, for the target of Rs. 5400, which is looking best bet, presuming the positive stay intact.
The major support is looking at Rs. 5100, if prices are closing below it we can expect some draw down in the asset to Rs. 4825, adds Hardik Jani, research analyst with Commodity Online.
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