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Wednesday, January 11, 2012

MCX Commodity Updates for Today: Copper Up, Crude Down

Crude oil is still suffering decline mode due to profit booking and fell almost 0.75% to trade at 5279 level and prices can further go down to 5230-5200 level. NYMAX crude has also slipped below $102 level. A lacklustre trading has been seen in precious metals. Prices are likely to remain consolidated today.
Copper has shown good shine and now trading around 405 level. Copper can touch 409 level if it manages to stay above 405.50 level. 

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MCX Commodity Market News and Trend Today

The weaker dollar index led the commodity market to end with mixed sentiments.
Gold traders remained skeptical and this yellow metal closed with slight decline. MCX Silver gained over 1.5%.
In Base metals Copper (Feb Futures) managed to close above Rs. 400. Traders can buy copper mcx above 404.50 and target 409.50 level for today.
Crude oil is also looking bullish today.
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