Crude and Copper Updates for Today

After showing some intial stength, MCX crude has started decling again. Due to ongoing strike in Norway, Crude oil production  has declined nearly 15% which caused this sudden spike in crude prices however the unemployment data from US has affected the market in reverse direction. Crude is now trading below 4590 level and prices are expected to touch 4950 level.

Base metals are trading well in domestic market. Copper after showing some positiveness, stumbled again and currently trading around 419 down 0.20%. However near term copper trend is positive and we can expect prices to reach 424-427 level soon.


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