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Monday, June 11, 2012

MCX Crude Updates Today

Crude Oil prices have boomed in all the indexes across the world. NYMAX, ICE and MCX have witnessed crude prices a gain of 2-2.5 %. Increased volume of crude oil import in China has supported the crude prices globally. However the bullishness seen in crude doesnt seem to be long lasting . Experts say that Crude may again suffer a correction of 150-200 points so traders need to remain cautious from the sudden glitter coming from crude oil. Prices on MCX have reached above 4751 level. Technically crudeoil is taking support near 4690 level while resistance can be seen at 4830.
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