MCX Crude Oil Trading Range and caalls Free @ Global Updates

Crude Oil trading range for the day is 3559-3663. Crude oil rose in anticipation of tighter crude supply going into 2017 following the decision by OPEC and other producers to cut output. OPEC and other producers led by Russia have announced cutbacks of almost 1.8 million bpd in oil production from January 2017. Saudi Arabia has stated its willingness to cut production below 10 million bpd if needed, which should limit risk to the deal.

Crude Oil MCX Fall 0.3 percent in the domestic market at rs 3605 Seems. So we recommended @Buy MCX Crude Oil January Contract at around 3600 to 3605 targets 3655, 3685 Stop Loss 3567.

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