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Wednesday, December 28, 2011

MCX Commodity Updates Today: Crude serges, Gold Silver declined Again

Crude oil has risen sharply. price has reached a level of Rs .5,400 on MCX. International market is also in bullish trend. NYMAX crude oil price has reached above $100 per Barrel .Reserves of crude in the United States is projected to decline.

Gold and silver are trading lower again. MCX Gold and Silver have declined in volume. Precious metals trend in International markets is also weak. MCX has remained firm in the base metals except zinc and lead are now looking sluggish.

Commodity Crude Updates and Trading Strategy for Today

International crude traded near highest of two weeks on the back of US economic recovery outlook. In domestic market also crude oil surged on Tuesday and crossed 5350 level.

Support for crude is seen near 5340 level and resistance is near 5420. Traders can Buy crude oil on lowers levels.
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