Crudeoil to trade in 3369-3447: Achiievers Equities
According to Achiievers Equities, Crude dropped despite bullish Chinese economic data, as investors weighed the impact of a ramp-up in U.S. oil production.
Achiievers Equities' commodity report on Crudeoil
Crudeoil trading range for the day is 3369-3447.
Crude dropped despite bullish Chinese economic data, as investors weighed the impact of a ramp-up in U.S. oil production.
Barker Hughes reported its weekly U.S. rig count rose by 11 to 683, it was the thirteenth straight weekly increase
Traders look ahead to OPEC’s next meeting, scheduled for May 25; it is widely expected that OPEC will announce the cut global oil supply.SELL CRUDEOIL APR 2017 @ 3420 SL 3460 TGT 3380-3340.MCX
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