Latest news with #NaveenMathur
Time of India
6 days ago
- Business
- Time of India
Commodity Radar: Crude oil's 3-month run raises profit-taking calls. Sell on rise
Crude oil extended its 3-month rally but faces headwinds from OPEC's September output hike and weak US jobs data. Analysts suggest a 'sell on rise' strategy amid bearish technical indicators, tariff threats, and geopolitical risks clouding the global oil market outlook. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Technical view Trading strategy Tired of too many ads? Remove Ads Crude oil prices were in the green zone on Wednesday, taking cues from the trends in the international market. The prices have been under pressure on the back of OPEC's agreement to increase oil output from September. Moreover, lower-than-estimated US payroll data has also raised concerns over the economic situation in the world's largest MCX August oil futures were trading at Rs 5,762 per bbl, up by Rs 14 or 0.24% over the Tuesday closing price. Meanwhile, on the COMEX, crude oil futures were hovering around $65.58, up by $0.42 or 0.64% and the Brent oil contracts were trading at $68.09, up by $0.45 or 0.67%.Commenting on the current trends, Naveen Mathur, Director - Commodities & Currencies, Anand Rathi Shares and Stock Brokers said that the softer jobs data coupled with OPEC's aggressive output hike decision has put pressure on the oil prices.'In July, crude oil closed higher for the third straight month but got stuck in a broad trading range of $65–$70 per barrel, as low inventories, declining rig counts, and geopolitical tensions offset economic slowdown fears. WTI ended the month up 6.4% at $69.26, while MCX crude gained 8.4% as rupee depreciation added to the gains in the India market,' Mathur Crude sanction threats have lifted the supply premium, with President Donald Trump's repeated threats of 100% secondary sanctions on China and to 2.75 million bpd of Russian oil is at risk, this analyst said, adding that there isa possibility of U.S. action on Russian oil, including secondary sanctions from August approved a 547,000 bpd output hike for September, completing the reversal of 2023 cuts ahead of schedule, but left the fate of another 1.66 million bpd offline supply uncertain. The move adds pressure on an already fragile market, risking a Q4 surplus.'Heading into August, markets eye OPEC+'s final output hike in September, with a pause expected till 2026 as the group assesses U.S. tariff s and China's weak economy. Meanwhile, Trump's 25% tariff on Indian goods and penalty threats over Russian oil imports have rattled Indian refiners, potentially tightening global supply if Russian crude flows are disrupted,' Mathur U.S. oil stockpiles near 5-year lows and rig counts falling, supply pressure may ease. However, with summer demand fading, prices may stay in check unless fresh geopolitical shocks crude oil is currently trading below its 200-day moving average at Rs 5,900, indicating a bearish undertone, and if the prices stay below this level, further downside momentum could emerge, Mathur said, with immediate support seen near Rs 5, indicators like MACD and RSI are also signalling overall trend remains weak, and the market is expected to stay range-bound between Rs 5,500 and Rs 6,000, the Anand Rathi analyst recommends a sell-on-rise strategy on MCX crude oil contracts with short positions around Rs 5,850, a stop loss of Rs 5,950 and targets of Rs 5,600 and Rs 5, the international front, WTI crude is struggling near $65.50, showing a sideways-to-bearish bias, and is likely to trade within the $64 to $68 range.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
Economic Times
6 days ago
- Business
- Economic Times
Commodity Radar: Crude oil's 3-month run raises profit-taking calls. Sell on rise
Live Events Technical view Trading strategy (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Crude oil prices were in the green zone on Wednesday, taking cues from the trends in the international market. The prices have been under pressure on the back of OPEC's agreement to increase oil output from September. Moreover, lower-than-estimated US payroll data has also raised concerns over the economic situation in the world's largest MCX August oil futures were trading at Rs 5,762 per bbl, up by Rs 14 or 0.24% over the Tuesday closing price. Meanwhile, on the COMEX, crude oil futures were hovering around $65.58, up by $0.42 or 0.64% and the Brent oil contracts were trading at $68.09, up by $0.45 or 0.67%.Commenting on the current trends, Naveen Mathur, Director - Commodities & Currencies, Anand Rathi Shares and Stock Brokers said that the softer jobs data coupled with OPEC's aggressive output hike decision has put pressure on the oil prices.'In July, crude oil closed higher for the third straight month but got stuck in a broad trading range of $65–$70 per barrel, as low inventories, declining rig counts, and geopolitical tensions offset economic slowdown fears. WTI ended the month up 6.4% at $69.26, while MCX crude gained 8.4% as rupee depreciation added to the gains in the India market,' Mathur Crude sanction threats have lifted the supply premium, with President Donald Trump's repeated threats of 100% secondary sanctions on China and to 2.75 million bpd of Russian oil is at risk, this analyst said, adding that there isa possibility of U.S. action on Russian oil, including secondary sanctions from August approved a 547,000 bpd output hike for September, completing the reversal of 2023 cuts ahead of schedule, but left the fate of another 1.66 million bpd offline supply uncertain. The move adds pressure on an already fragile market, risking a Q4 surplus.'Heading into August, markets eye OPEC+'s final output hike in September, with a pause expected till 2026 as the group assesses U.S. tariffs and China's weak economy. Meanwhile, Trump's 25% tariff on Indian goods and penalty threats over Russian oil imports have rattled Indian refiners, potentially tightening global supply if Russian crude flows are disrupted,' Mathur U.S. oil stockpiles near 5-year lows and rig counts falling, supply pressure may ease. However, with summer demand fading, prices may stay in check unless fresh geopolitical shocks crude oil is currently trading below its 200-day moving average at Rs 5,900, indicating a bearish undertone, and if the prices stay below this level, further downside momentum could emerge, Mathur said, with immediate support seen near Rs 5, indicators like MACD and RSI are also signalling overall trend remains weak, and the market is expected to stay range-bound between Rs 5,500 and Rs 6,000, the Anand Rathi analyst recommends a sell-on-rise strategy on MCX crude oil contracts with short positions around Rs 5,850, a stop loss of Rs 5,950 and targets of Rs 5,600 and Rs 5, the international front, WTI crude is struggling near $65.50, showing a sideways-to-bearish bias, and is likely to trade within the $64 to $68 range.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
Economic Times
23-07-2025
- Business
- Economic Times
Commodity Radar: Crude oil in bearish trend. Expert suggests sell on rise for this target
Crude oil futures were trading in a tight range on Wednesday amid demand concerns. The MCX August crude oil futures were trading flat around Rs 5,647 per Bbl taking cues from the international prices which were trading flat on the COMEX. ADVERTISEMENT The WTI crude oil futures were trading at $65.22, down by $0.09 or 0.14% while the Brent futures were hovering near the $68.52 mark, down by $0.07 or 0.10%. Commenting on the current trends, Naveen Mathur, Director - Commodities & Currencies, Anand Rathi Shares and Stock Brokers, said crude oil prices are under pressure, and have extended losses for a third straight session amid escalating U.S.-EU trade tensions and a looming tariff deadline on August 1. WTI oil is trading near $66, with downside risks intensifying as expectations build for a better-supplied market in the coming months.'Although the EU's latest sanctions targeting Russian oil products could disrupt diesel exports from India, the overall market reaction has been muted due to continued Russian flows via intermediaries,' Mathur weak housing data and high mortgage rates point to slowing growth, but easing inflation and improving consumer sentiment could prompt the Fed to cut rates, supportive for energy demand, Mathur opined. ADVERTISEMENT Amid all the bearish triggers looming, Crude oil has still maintained its $65-69 price band. US Oil rigs are falling consistently while geopolitical tensions remain. Moreover, China's push to stockpile crude will help offset the softer tone. ADVERTISEMENT Mathur sees some temporary spikes, but the long-term outlook remains bearish oil in his Crude Oil August contract is trading below its 21-Daily Moving Average at Rs 5,725, indicating continued bearish momentum, the Anand rathi analyst said, adding that technical indicators like MACD and RSI are showing a negative bias and the price is likely to remain in a broader range of Rs 5,500–Rs 5,800. ADVERTISEMENT A strong support is seen at Rs 5,530, and a break below this level could trigger further downside towards Rs 5,391 and Rs 5,285, he said further. In the short term, the strategy remains to sell on a rise near Rs 5,700 with a stop loss at Rs 5,800 and target of Rs 5,500. ADVERTISEMENT WTI Crude Oil continues to trade in a bearish trend, struggling to hold above the key $65 level. A break below $64.50 could accelerate the downside move towards $62.80 and $61.70 levels. On the upside, resistance is seen at $66.30 followed by $67.90. Overall sentiment remains weak unless prices manage to sustain above immediate resistance zones. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel)
Time of India
23-07-2025
- Business
- Time of India
Commodity Radar: Crude oil in bearish trend. Expert suggests sell on rise for this target
Crude oil futures were trading in a tight range on Wednesday amid demand concerns. The MCX August crude oil futures were trading flat around Rs 5,647 per Bbl taking cues from the international prices which were trading flat on the COMEX. The WTI crude oil futures were trading at $65.22, down by $0.09 or 0.14% while the Brent futures were hovering near the $68.52 mark, down by $0.07 or 0.10%. Explore courses from Top Institutes in Please select course: Select a Course Category Public Policy Data Science Finance Operations Management Product Management others Cybersecurity healthcare Management Others Design Thinking Data Analytics Data Science Project Management Healthcare Leadership MCA Degree Artificial Intelligence MBA CXO PGDM Digital Marketing Technology Skills you'll gain: Economics for Public Policy Making Quantitative Techniques Public & Project Finance Law, Health & Urban Development Policy Duration: 12 Months IIM Kozhikode Professional Certificate Programme in Public Policy Management Starts on Mar 3, 2024 Get Details Skills you'll gain: Duration: 12 Months IIM Calcutta Executive Programme in Public Policy and Management Starts on undefined Get Details by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Join new Free to Play WWII MMO War Thunder War Thunder Play Now Undo Commenting on the current trends, Naveen Mathur, Director - Commodities & Currencies, Anand Rathi Shares and Stock Brokers, said crude oil prices are under pressure, and have extended losses for a third straight session amid escalating U.S.-EU trade tensions and a looming tariff deadline on August 1. WTI oil is trading near $66, with downside risks intensifying as expectations build for a better-supplied market in the coming months. 'Although the EU's latest sanctions targeting Russian oil products could disrupt diesel exports from India, the overall market reaction has been muted due to continued Russian flows via intermediaries,' Mathur said. Live Events However, weak housing data and high mortgage rates point to slowing growth, but easing inflation and improving consumer sentiment could prompt the Fed to cut rates, supportive for energy demand, Mathur opined. Amid all the bearish triggers looming, Crude oil has still maintained its $65-69 price band. US Oil rigs are falling consistently while geopolitical tensions remain. Moreover, China's push to stockpile crude will help offset the softer tone. Mathur sees some temporary spikes, but the long-term outlook remains bearish oil in his view. Technical Outlook MCX Crude Oil August contract is trading below its 21-Daily Moving Average at Rs 5,725, indicating continued bearish momentum, the Anand rathi analyst said, adding that technical indicators like MACD and RSI are showing a negative bias and the price is likely to remain in a broader range of Rs 5,500–Rs 5,800. A strong support is seen at Rs 5,530, and a break below this level could trigger further downside towards Rs 5,391 and Rs 5,285, he said further. Crude oil futures trading view: In the short term, the strategy remains to sell on a rise near Rs 5,700 with a stop loss at Rs 5,800 and target of Rs 5,500. WTI Crude Oil continues to trade in a bearish trend, struggling to hold above the key $65 level. A break below $64.50 could accelerate the downside move towards $62.80 and $61.70 levels. On the upside, resistance is seen at $66.30 followed by $67.90. Overall sentiment remains weak unless prices manage to sustain above immediate resistance zones.
Time of India
09-07-2025
- Business
- Time of India
Gold price prediction today: Where is gold rate headed & is silver a better bet compared to yellow metal right now? Here's the outlook
Gold price prediction today: Gold rates may continue to be range-bound as geopolitical tensions ease and optimism mounts on possible US trade deals with countries on the extension of tariff deadline to August 1, 2025. Tired of too many ads? go ad free now Over the next few days silver may be the preferred option compared to gold, say experts. Naveen Mathur, Director - Commodities & Currencies, Anand Rathi Shares and Stock Brokers shares his views and recommendations for gold investors: Gold price continued to face hurdles near $3350 since last week after the precious metal edged lower since last week as the US June Nonfarm Payrolls (NFP) report altered the US Federal Reserve (Fed) policy expectations. The US NFP came in stronger than expected, rising by 147,000 jobs in June from 144,000 in May (revised from 139,000). Additionally, the Unemployment Rate held steady at 4.1% in June. These reports indicated continued labor market resilience, reducing the possibility of the Fed's near-term monetary accommodation. This, in turn, underpins the US Dollar (USD) and exerts some selling pressure on the non-yielding assets like Gold. On the other hand, renewed geopolitics saw Israel military attacking Houthi targets at three ports and a power plant in Yemen. Defence Minister Israel Katz confirmed the attack, saying they were carried out due to repeated attacks by the Iranian-backed rebel group on Israel. However the same failed to bring in additional upside in prices. Traders brace for the Federal Open Market Committee (FOMC) Minutes later on Wednesday for fresh impetus. Tired of too many ads? go ad free now Gold traders could also closely monitor the developments surrounding tariff policies amid renewed geopolitical tensions seen in the Middle East. Many major US trading partners are seen hurrying to secure deals, with Commerce Secretary Howard Lutnick telling reporters on Sunday that country-by-country tariffs will take effect August 1. While an interim accord with India was also expected to be reached, trade related uncertainties are seen easing in weeks ahead. US President Donald Trump's consistent tariff threats have temporarily muted demand for the yellow metal while supporting the demand for the Greenback. The president has announced new tariffs on countries, with Japan at 25% and South Korea at 30% standing out. He has also given a new deadline, August 1, instead of July 9. Overall broad trend could remain sideways to cautious at higher levels amid Fed meeting minutes due Wednesday night could remain the next major trigger which may also provide clues on timing of rate cuts with most members seen to favor rate cuts starting September. On the other hand, Silver could remain a preferred bet for coming month as compared to gold as Silver-backed ETFs now stand at the highest since mid-2022, after enjoying net inflows for the past eight weeks witnessing the longest run in almost a half-decade Gold Price Outlook Gold Price Weekly View: Sideways to Downside Spot Gold could broadly trade in a narrow range of $ 3350 – 3270/oz (CMP $ 3310) till next week as most trade related uncertainties are seen easing now while US macro cues could remain in focus ahead. On MCX this could translate to a trading range of Rs 97,650 – 95,230 / 10 gm in Aug futures contract.(CMP Rs 96,460 / 10 gm) (Disclaimer: Recommendations and views on the stock market and other asset classes given by experts are their own. These opinions do not represent the views of The Times of India)
