Mcx Market for this Week 17 feb. 2016

MCX CRUDE OIL:-
prices tested a valid trend line at 2250 levelheaded  forming a bearish engulfing candlestick pattern on daily charts.Today’s outlook remains weak and further fall is possible upto 2103 and 2065.

MCX GOLD:
it resumed its privileged bullish trend and ended in a positive tone. Gold jumped 1%. snapping a three day losing streak to trade above the key $1200. Bullion rallied to a one year high last week after a stock market busted demand for yellow metal.

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