Crude oil has come downwards seriously
and crude prices have slipped in the global market to a near to the ground
level of around two and a half months According to Commodity Tips. Brent
is trading below $ 75. While NYMEX crude has touched below $ 65. The heaviness
on prices has increased with the hope of growing reserves in America and
further improving supplies. Meanwhile, the dollar index touched the higher
level of the last 16 months. In such a situation, prices of crude oil have been
hit. In the past 1 month, crude oil has come down by about 10 percent.
Meanwhile, after the fall of
yesterday, there has been a small recovery in gold and the price has gone above
$ 1215. Yesterday it slipped to $ 1210. At the similar time, despite the silver
revival, it is below $ 14.5. With the expectation of decreasing demand, the
price of aluminium in China has dropped to the lowest level in the last two
years. The rupee has strengthened against the dollar today and the price of 1
dollar has come to 73.80 rupees.
Crude oil MCX (November futures):
Sell - 4860, Stop loss - 4890, Target - 4780
Zinc MCX (November futures): Buy
- 188, Stop loss - 186, Goal - 193
Cotton Whole NCDEX (December
futures): Buy - 1788, Stop loss - 1751, Target - 1850
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