Crude continues to exhibit weakness

By Gautam Broker, Research Analyst at CNBC-TV18

Crude continued to exhibit weakness on Monday. London Brent crude was trading at USD 114.2 a barrel, with falling 0.4% and NYMEX crude was at USD 103.4 a barrel, down 0.5%.

LME copper was down 1.5% as high inventories deterred Chinese buyers. Auto part shortages were seen due to Japan impact.

Gold was stable after 2-day fall. SPDR holdings were at a 3-week low.

Data to watch
-API inventory report
-Consumer Confidence Index
-S&P Case-Schiller home price index

Angel Commodities advised to:
-Sell Crude MCX April contract at Rs 4750 per barrel, with a target at Rs 4680 and keep a stoploss of Rs 4785.