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MCX Aluminium has been trading in a medium-term downward sloping channel. Recently, it has fallen from the upper channel line towards the lower line and has bounced thereon. The daily momentum indicator has been showing a positive divergence for a while now.Thus, the recent low of 98.05 will act as a crucial base from a short-term perspective. A minor-degree dip till 101 will be an opportunity to initiate the fresh long position. The key level on the upside is at 105. If bulls push harder, they can stretch till 109.30....
Get MCX Tips For Today here- http://www.live-market-tips.com/mcx-gold-tips-and-trend-for-today-17th-april-13/
The commodity oil prices at global level plunged as commodity markets across the globe reeled under the impact of the powerful earthquake and tsunami that shocked Japan. The commodity crude for April delivery ended trading at $101.16 a barrel after hitting as low as $99.01 a barrel earlier in the day.
Saudi Arabia's Oil Minister Ali al-Naimi stated that crude oil prices should fall further as global supply has outweighed demand. Saudi Arabia increased its production by 2,00,000 barrels to 101.1 million barrels a day in April, highest since 1980 as per the OPEC's report last week and still has a spare capacity of 2.5 million barrels a day.....
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