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Commodity Outlook 10 April 2020

 Crude oil prices opened strongly higher with a

gap in the last session and prices rose further for most of the session till high of 2117.

 Prices have been recovering gradually since last one week after making its fresh all-time low of 1550.

 Prices have also made a potential double bottom chart pattern, neckline of which is placed at 2182 level.

 Therefore, prices are expected to rise further from these levels towards immediate resistance placed around 2180 level.

 On the lower side, immediate supports are placed around 1975 and 1870 levels.

 Buying on minor pullbacks is recommended in Crude oil for the day.

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