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CRUDE OIL:

Crude oil dragged lower in last trading session. However on daily chart prices has formed hammer candlestick pattern near the important support zone. We expect some short covering in Crude oil as it has corrected significantly in past few days. Traders can buy Crude oil arond 4900 for the target of 4930 level on intraday basis.

BUY CRUDE OIL AROUND 4900 SL BELOW 4870 TGT 4930/4960

COPPER

Copper prices edged lower in last trading session after prices broke the support zone of 725 and it drifted lower towards 717 level on intraday basis. On daily chart prices has formed hammer candlestick pattern near the important support zone which indicate possible reversal in prices. Traders can buy Copper around 721 level for the target of 725 on intraday basis.

BUY COPPER AROUND 721 SL BELOW 717 TG 725/728

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