MCX India Trading Oil Up on Short Covering

Oil prices rebounded in Asian trade on Tuesday as traders covered short positions after prices fell at least 3 percent in the previous session, but gains were capped by worries about oversupply and the health of the global economy. Brent crude for December delivery had climbed 11 cents to USD 48.72 a barrel by 11.29 pm ET after settling down USD 1.85, or 3.7 percent, in the previous session.

Investors are also keeping an eye on the outcome of a technical meeting of oil experts from the Organization of Petroleum Exporting Countries and non-OPEC countries on Wednesday, as well as a European Central Bank meeting and manufacturing data from China later this week.

Today Commodity Tips by MCX India Trading Calls

  •  MCX INTRADAY TRADING CALLS :-  BUY LEAD OCTOBER ABOVE 115.05 STOPLOSS BELOW 114.20 TARGET 115.90-116.70. CURRENT MARKET PRICE: 115.00. MCX India Trading Calls
  • MCX INTRADAY TRADING CALLS :- BUY ALUMINIUM NOVEMBER ABOVE 99.80 STOPLOSS BELOW 98.50 TARGET 100.50-101.60. CURRENT MARKET PRICE : 99.80. MCX India Trading Calls
  • MCX INTRADAY TRADING CALLS :- SELL GOLDMINI NOV @ 26800 STPLOSS ABOVE 26920 TARGET 26720-26640. CURRENT MARKET PRICE: 26800. MCX India Trading Calls
     

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