MCX Crude Oil Tips

Oil prices fell hard in every morning barrel coming easily into view. US oil stockpiles dropped over 3 million barrels last week which appears to have failed to support the price of the black gold. Speculative reports of unilateral action by Saudi Arabia to boost production have many investors going short on physical assets. Diminishing demand by the manufacturing and industrial sectors of multiple economies may also be adding to the weight oil prices are bearing this week.

What is Crude Oil?

The oil we find underground is called crude oil. Crude oil is a mixture of hydrocarbons - from almost solid to gaseous. These were produced when tiny plants and animals decayed under layers of sand and mud millions of years ago.Crude oil has to be changed before it can be used for anything. This happens in an oil refinery. Crude oil doesn't always look the same it depends where it comes from. Sometimes it is almost colourless, or it can be thick and black. But crude oil usually looks like thin, brown treacle.

There are three types of crude oil -

1. Heavy crude which is dark, thick and sticky
2. Light crude which is a light golden color and flows easily
3. Medium crude
 

CRUDE OIL TIPS - Oil continue up move…and slightly higher on worries over fighting in Libya and anti government protests throughout the Middle East . Last week from the low of 4377 it was made a high 4625 and finally managed close above 4543. In this week, we can expect trend decider 4515 and resistance 4629 watch out.As we have rightly predicted in out last report that prices might bounce back till 4650 levels, but it didn’t bounce back that level.

Technically speaking prices has formed Flag pattern and RSI is also form-ing the Ascending triangle. Prices has also formed a very strong resistance 4640 levels.For the coming week we expect price to bounce back till 4670 levels in crude oil updates , with a strong support of 4456 level.

With today’s steady movement, traders appear likely to see oil reaching a support line early this week. Whether oil traders decide to lift oil prices from a buy-in on physical assets, or whether they decide to pull away from the black gold out of a perceived global oversupply, is a point traders will bear witness to this week. Such sharp downward price action, however, is typically met with staunch resistance as the new price gets tested. We should see news from today’s ECOFIN meetings generating tension among risk sensitive traders which may cause large swings in and out of commodities.

We would like to guide you in investing properly in stock market in Nifty Tips, Commodity Tips, Trading Tips, Stock Tips , Intraday Tips, Nifty Option Tips, Share Tips. This is a best stock tips service provider for stock market. Stock tips are one of the most important sources for companies to raise money. This allows businesses to be publicly traded, or raise additional financial capital for expansion by selling stock of ownership of the company in a public market. Stock tips helps customers to increase their stock trading strategies by providing tips on stock.