Crude Oil Go Down | Commodity Tips Today 17 June

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Crude Oil Go Down :- Crude oil futures slipped in the mid electronic trades today as traders booked profits after it jumped by more than 1% post Middle East issues.MCX June crude oil futures are trading down Rs 30 at Rs 5630 per barrel. It may face a resistance near Rs 5655 levels with support near Rs 5600 levels. 

MCX Base Metal Trend :- MCX Nickel June contract may continue is short term down trend as it was unable to hold above 38.2% retracement levels of down fall from 997 (high) to 786 (low). Strong resistance levels stays near 891 and 916.8 while strong support level is seen near 786. As short trend is still negative, a fresh wave of selling can be seen for downside target of 786, trader can sell on small pullback around 835-850 range. 

Mcx Tips :- Sell Crude Oil at 5638-5648 SL 5680 Target 5620-5590-5560. 

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