On Monday oil prices gained Rs 14 to Rs 4,255 per barrel as speculators created fresh positions amid positive trend in spot market. Analysts said fresh bets created by participants kept crude prices higher in futures trade.
In my latest Oil Price Weekly Outlook we noted that the recent reversal price shifted the, “near-term focus higher but keeps the broader advance within the confines of the descending price pattern we’ve been tracking for weeks now… The risk remains for a stretch higher in oil prices with more significant resistance eyed at the 2018 open / 61.8% retracement of the April decline at 60.06/45 – look for a bigger reaction there IF reached.” Crude is now within striking distance with price attempting to mount the 50% retracement / 100-day moving average at 58.56/96.
A special Muhurat trading session will be held by the NSE and BSE on account of Diwali Laxmi Pujan on Wednesday. Muhurat trading, conducted on the auspicious occasion of Diwali, would be held between 5:30 pm and 6:30 pm on Wednesday, the stock exchanges said.
N—9999974733 WHO STUCK WRONG SIDE CALL US OR WHTS UP