Buy Crudeoil Above 7280 SL Below 7150 TGT 7450/7500 - Axis Securities
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Crudeoil
MCX Crudeoil opened with an upward gap and remained lackluster within a narrow trading range throughout the day. The daily strength indicator RSI is moving upwards and is above its reference line indicating positive bias. Crude Oil continues to remain in an uptrend for the short term, so buying on dips continues to be our preferred strategy.
BUY CRUDEOIL ABOVE 7280 SL BELOW 7150 TGT 7450/7500
COPPER
MCX Copper opened with a downward gap and remained volatile on either side. The chart pattern suggests that if Copper crosses and sustains above 666 level it would witness buying which would push the price towards 672-677 levels. Important support for the day is around 655.
BUY COPPER ABOVE 666 SL BELOW 661 TGT 672/677
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