On account of upbeat global market sentiments and expectations of an improvement in the global economic scenario we expect crude oil prices to trade on a positive note.
Apart from that, dollar weakness will also provide support by making the dollar-denominated commodity look attractive for holders of other currencies.
MCX Crude Nov’11 Rs/bbl support:4533.0/4471.0 resistance: 4635-4675
Courtesy: Karvy Commtrade Ltd.
Get Trading Tips that suits your profile and budget at tips.commodityonline.com
View the original article here
Apart from that, dollar weakness will also provide support by making the dollar-denominated commodity look attractive for holders of other currencies.
MCX Crude Nov’11 Rs/bbl support:4533.0/4471.0 resistance: 4635-4675
Courtesy: Karvy Commtrade Ltd.
Get Trading Tips that suits your profile and budget at tips.commodityonline.com
View the original article here
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