Crude climbs to seven-week high to $ 80/bbl

Friday, October 1, 2010

Crude climbs to seven-week high to $ 80/bbl

DAILY MARKET UPDATES CLICK HERE

Crude rose to a seven-week high to USD 80 a barrel after lower US Jobless claims stoked optimism for economic recovery in the world's top oil consumer and as military and police protests thrust OPEC-member Ecuador into political unrest. Currently it is USD 80.39 per barrel.

CapitalVia Global Research Head of Research Vivek Gupta said: "The good thing to cheer for the investors is that now they own a stake in the company which is much more clean in all the aspects and is amongst the top-five IT companies." Via moneycontrol.com

Commenting on the outlook, the broking firm CapitalVia Global Research said, "Next week, if gold sustains above the level of 26,430 then by breaking the level of 26,890, it may touch the level of 27,250. But if it fails to sustain above 26,430 then may touch the level of then it may test the level of 25,311/25,200. For silver 42,800 may act as good resistance. For the next week, traders can sell on higher level strategy, if MCX Silver September futures sustains below 41,080 then it could test the levels of 40,340/ 39,900." Via myiris.com

Vivek Gupta, head of research, CapitalVia Global Research said, "Technically, Nifty is likely to consolidate in the upcoming session and remain bullishly poised. Major resistance for upside is 6,080 with the crossing of which 6,150 can be touched. For downside, major support is at the level of 5,850 and 5,750."


Your Name	Required
Name Of Stock/Commodity	Required
Mobile No. (+91)	Required

Free Nifty Tips/Stock tips for today/ Share Trading tips/Commodity Tips for Tomorrow

Menu

My g+ Profile

Friday, October 1, 2010

Crude climbs to seven-week high to $ 80/bbl

Get Free Trial.. Fill the form