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Sell Crude Oil Below 7800 SL Above 7850 TGT 7740/7700 - Axis Securities
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CRUDE OIL
Crude oil prices edged higher in last trading session. In last session prices was up by almost 2 percent. However on hourly chart prices is facing strong resistance around 7900 level. Moreover we have also observed divergene in RSI. Traders can sell Crude oil if it sustains below 7800 for the target of 7740 on intraday basis.
SELL CRUDE OIL BELOW 7800 SL ABOVE 7850 TGT 7740/7700
COPPER
Copper prices edged higher in last session and closed around 816 level. On hourly chart prices is trading above 9 and 20 days EMA and RSI is also above 60 level which is a positive sign for prices. Strong resistance zone is seen around 820 level. Breakout above the mentioned level may push prices higher towards 823 on intraday basis
BUY COPPER ABOVE 820 SL BELOW 817 TGT 823/826
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