Sell Crude oil Around 5150 SL Above 5180 TGT 5110/5080 - Axis Securities
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Crude oil
Crude oil prices cracked in last trading sessoin after prices broke the strong support zone of 5200 and drifted lower towards 4900 level. It is down by more than 8 percnet in last session. Momemtum indicator RSI is below 40 which indicate that overall trend is weak. Any rallied towards 5150 may be used as an selling opportunity.
SELL CRUDE OIL AROUND 5150 SL ABOVE 5180 TGT 5110/5080
Copper
Copper prices was down by more than 1 percent in last trading session after prices broke the strong support zone of 730 and closed aorund 725 level. On hourly chart it is trading below 9 and 20 days EMA and RSI is also below 60 level which indicate that momentum is weak. Traders can sell Copper on rise around 733 for the target of 730 on intraday basis.
SELL COPPER AROUND 733 SL ABOVE 736 TGT 730/727
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