Buy Crude Oil Above 6030 SL Below 5930 TGT 6170/6250 - Axis Securities
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Crude oil
MCX Crudeoil opened on a flat note and remained in a small range throughout the day. The chart pattern suggests that if Crudeoil crosses and sustains above 6030 level it would witness buying which would push the price towards 6170-6250 levels. Important support for the day is around 5930.
COPPER
MCX Copper opened on a flat note 711 715 and witnessed selling for most part of the session. The daily strength indicator RSI is moving downwards and is quoting below its reference line indicating negative bias. Copper continues to remain in a downtrend in the short to medium term, so selling on rallies continues to be our preferred strategy.
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