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Monday, 10 April 2017

DAILY COMMODITY MARKET STRATEGY- 10 Apr 2017

Best Commodity Tips
Refined Gold prices were down 0.2 percent to end at Rs 28,665 per 10 grams. The metal tested a high of Rs 29,000 per kg and a low of Rs 28,661 per 10 grams.

Resistance for Refined Gold is at Rs 29,200 per 10 grams. Support for Gold is at Rs 28,500 per 10 grams. Breaking Rs 29,200 would mean further elevation of Gold towards Rs 29,500 per 10 grams.

The prices of MCX Copper depleted yet again last week. Copper declined by 1.01 percent to end at Rs 376.80 per kg. On the higher side, Rs 379.40 per kg was noted while on the lower side, Rs 370.60 per kg was noted.

The resistances for Copper is at Rs 380 per kg, while supports are at Rs 368 per kg remains active.

The session for Crude Oil was silent as the prices rolled forward by only 0.3 percent. Crude Oil ended at Rs 3,362 per barrel.

Crude Oil tested a high of Rs 3,399 per barrel and a low of Rs 3,320 per barrel. Resisting at higher levels Rs 3,450 per barrel will be upper cap.

On the lower side, supports for Crude Oil would be at Rs 3,280 and 3,250 per barrel.

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