Sell Crude Oil Below 4765 SL ABOVE 4810 TGT 4700/4680 - Axis Securities Ltd
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CRUDE OIL
MCX Crude oil price is trading near strong support of descending triangle pattern, price is expected to trade negatively. Any breakdown below 4765 would drag down the price lower towards 4700/4680 levels intraday. The momentum indicator RSI is trading at 44 and it is forming lower lows which is a bearish sign for the prices.
SELL CRUDE OIL BELOW 4765 SL ABOVE 4810 TGT 4700/4680
COPPER
MCX Copper price is failing to trade above 752 levels and facing resistance near 38.2% retracement level, price is expected to trade negatively. Any breakdown below 748 would drag down the price lower towards 741/739 levels in intraday. The price has been trading below 100 EMA which is a bearish sign for the prices.
SELL COPPER BELOW 748 SL ABOVE 752 TGT 741/739
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