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Oil Update

NYMEX LIGHT SWEET CRUDE FUTURES

31-Mar-2008,  May Fut @ 104.96 at 1701 IST or 1131 GMT or 0731 EST

Short-Term:
Crude fell on Friday and is steady so far today. Expect a range of 103-108.00 (narrow) and 100-108 (wider) over this week and the next. Today the Support is at 104.00. Below that the Support is likely at 103.20. On the upside the Resistance is at 105.00 and 105.70. Buying on a dip to 103.00-102.00 would be suggested.

Short Term Trades:
Total trading lots - 3
Holding:
3 Lots cash





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DISCLAIMER
These views/ forecasts/ suggestions, though proferred with the best of intentions, are based on our reading of the market at the time of writing. They are subject to change without notice.Though the information sources are believed to be reliable, the information is not guaranteed for accuracy. Those acting in the market on the basis of these are themselves responsible for any profits or losses that might occur, without recourse to us. World financial markets, and especially the Foreign Exchange markets, are inherently risky and it is assumed that those who trade these markets are fully aware of the risk of real loss involved.


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