MTECHTIPS

MTECHTIPS;- MCX Crude Oil sees selling pressure ahead of contract expiry MCX crude oil for October delivery may get support at 5180 and resistance at 5300, said Amrita Mashar, Manager-Research, Commodity Online. “Crude oil September contract will expire... More

MTECHTIPS;- MCX Crude Oil sees selling pressure ahead of contract expiry MCX crude oil for October delivery may get support at 5180 and resistance at 5300, said Amrita Mashar, Manager-Research, Commodity Online. “Crude oil September contract will expire tomorrow. Ahead of expiry, selling pressure is witnessed in September and October contracts. ” she said. Currently the October contract is at 5242 levels a barrel. Crude Oil prices slipped by almost $3 in less than a minute in late trade on Monday, just as trading volumes spiked. After yesterday s huge loss, Crude opened in negative territory and continued its downside trend for morning session, Tuesday. Gold, Copper and EURO were also dragged down along with crude oil prices this morning. Meanwhile, the international crude oil price for Indian Basket as computed on Tuesday by the Petroleum Planning and Analysis Cell (PPAC) under the Ministry of Petroleum and Natural Gas decreased slightly to $ 115. 31/barrel (bbl) on Monday. The pr Less