Sell Copper Below 785 SL Above 791 TGT 777/77 - Axis Securities
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Crudeoil
MCX Crudeoil opened on a flat note and witnessed extreme volatility on either side for most part of the session. The daily strength indicator RSI] is moving upwards and is above its reference line indicating positive bias. Crudeoil continues to remain in an uptrend fortheshortterm,so buying on dips continues to be our preferred strategy.
BUY CRUDEOIL ABOVE 9520 SL BELOW 9400 TGT 9660/9750
Copper
MCX Copper opened sharply lower with a downward gap and selling pressure throughout the session. The chart pattern suggests that if Copper breaks and sustains below would witness selling which would drag It towards 777-771 levels. Important resistance for the day is placed at 791.
SELL COPPER BELOW 785 SL ABOVE 791 TGT 777/77
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