MTECHTIPS:-Crude oil to trade in 3613-3699 range: Achievers Equities

MTECHTIPS:-Crude oil to trade in 3613-3699 range: Achievers Equities

MTECHTIPS- Crude oil trading range for the day is 3613-3699. Crude oil dropped on last trading session of the year but gained on yearly basis on the back of an agreement struck between OPEC and non-OPEC countries. The market also shrugged off an unexpected increase in U.S. crude inventories, which rose 614,000 barrels. Traders are expected a balance to return to the market by the middle of 2017, however, as OPEC’s production cuts take full effect. BUY CRUDE OIL JAN @ 3620 SL 3560 TGT 3660-3700. MCX.

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