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Crude oil

MCX Crudeoil opened on a flat note and witnessed extreme volatility on either side for most part of the session. The chart pattern suggests that if Crudeoil crosses and sustains above 8600 level it would witness buying which would push It towards 8800-8900 levels. Important support for the day is around 8450.

BUY Crudeoil ABOVE 8600 SL BELOW 8450 TGT 8800/8900

Copper

MCX Copper opened sharply lower with a downward gap and selling pressure throughout 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 term, so exit on small pullback rallies to be our preferred strategy.

SELL COPPER BELOW 673 SL ABOVE 680 TGT 664/660

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