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Copper

Copper opened with an upward gap and remained in positive terrain throughout the day.Copper closed at 807 with a gain of 27 points. The daily strength indicator RSI is moving upwards and is above its reference line indicating positive bias. On daily chart prices has given a cup and handle breakout which is a bullish continuation pattern. It has closed above 20 and 60 days EMA on hourly chart which indicate positive bias. Traders can buy Copper on dips around 800 level for the target of 805 on intrday basis.

BUY COPPER AROUND 800 SL BELOW 797 TGT 805/810

GOLD

Gold opened with an upward gap and remained in positive terrain throughout the day. Gold closed at 51269 with a gain of 404 points. The daily strength indicator RSI has turned positive from the oversold territory and is above its reference line indicating positive bias. On the daily chart It has formed a bullish candle and has closed above its previous session's high represeing positive bias ahead. On hourly chart Gold is trading above 20 and 60 day EMA's indicating positive bias in the short term. On hourly chart Gold is trading above 20 and 60 day EMA's indicating positive bias in the short term

BUY GOLD AROUND 51100 SL BELOW 51000 TGT 51200/51300

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