Thursday, 8 December 2016

Crude oil dips on emerging doubts over OPEC output cut : 08 Dec 2016


Despite weak US dollar, crude oil futures plunged by more than 1 per cent during afternoon trade in the domestic market on Thursday as investors and speculators exited their positions in the energy commodity on mixed US crude stocks data and lingering worries over OPEC's implementation of an output cut.
Crude oil inventories in the US dropped 2.4 million barrels in the week ended on December 2, compared with analyst expectations for a draw of 1 million barrels.
But stocks at the Cushing, Oklahoma, delivery hub for US crude futures, increased by a hefty 3.8 million barrels last week, the most since 2009, according to EIA data.
At the MCX, crude oil futures for December 2016 contract is trading at Rs 3,358 per barrel, down by 1.09 per cent, after opening at Rs 3,390, against a previous close of Rs 3,395. It touched the intra-day low of Rs 3,351 

About

Parag Patil is a technical analyst and trading system designer with stock excel programmer. I hope the articles and live chart of nse future and mcx on this Website will be as helpful and profitable to you . I try to update and post new articles tips everyday. My motto is to encourage the traders, so that they should able to understand the technique views behind the moment of stocks. I have deeply analyzed with many technical indicator with parameter and added to my amibroker afl. And even taken backtest report which is never being implemented. Any of the analyst expect me. Seeing all this you may understand that my views is more technical than commercial. If you are profited by my views I fill happy.

0 comments:

Dear Friends,
Sorry to say that you are suffered for the chart initially available, now they are restored and you can very well see the chart on money99.org similar to money99.in.
And all of you are intimated that we are going to develop more and more in money99.org to facilitate your dreamy demands.

Latest updates tips : Follow

© Copyright 2015 Money99. Designed by Parag Patil