Choice International Ltd
Published on 21/09/2017 11:52:28 AM

Crude Oil

MCX Crude Oil price has given breakout of the falling trend line on the daily chart; a retest of the breakout point confirms the strength of the move. In addition, price has been trading above 21 EMA on the daily chart. Moreover, daily RSI has moved above the falling trendline which suggests chances of more upsides in the price. For now, we keep our view to bullish on MCX Crude with and expectation of move towards 3400 levels in the few trading session.

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Choice International Ltd
Published on 21/09/2017 11:52:02 AM

Copper

On daily chart, the MCX Copper price has given trendline breakdown and has sustained so far below it, which confirms reversal of the earlier uptrend. Moreover, price has fallen below 21 EMA on the daily chart which again suggests weakness going forward. In addition, daily RSI is in bearish crossover and falling. Based on the above analysis we can come out with a view that MCX Copper may continue to move southwards; on the lower end price may reach towards 410 levels over the short term.

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