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Copper

Copper prices edged lower in last trading session after prices failed to sustian near the strong support zone of 740 and drifted lower towards 728 level on the back of fear of new coronavirus variant. Today we expect a gap up opening in MCX. Resistance zone is seen around 745 which is a good level for selling for the target of 742 level.

SELL COPPER AROUND 745 SL ABOVE 748 TGT 742/738

Crude oil

Crude oil prices cracked in last trading session after prices broke the strong support zone of 5600 and closed around 5185 level. Prices suffered the worst fall in month on the back new variant of Cornavirus which triggered panic selling and it was down by almost 11 percent. we expect prices to open gap up in today session. Immediate resistance zone is seen around 5500 level. It can be used as an selling opportunit for the target of 5450 level.

SELL CRUDE OIL AROUND 5500 SL ABOVE 5580 TGT 5450/5400

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