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Crudeoil

MCX Crudeoil opened with a downward gap and traded with extreme volatility on either side and gained buslish momentum in the second session. The chart pattern suggests that if Crudeoil breaks and sustains below 7290 level it would witness selling which would drag the price towards 7160-7100 levels. Important resistance for the day is placed at 7300.

SELL CRUDEOIL BELOW 7290 SL ABOVE 7400 TGT 7160/7100

Copper

MCX Copper opened on flat note and remained in a small range throughout the day. The chart pattern suggests that if Copper crosses and sustains above 695 level it would witness buying which would push the price towards 700-704 levels Important support for the day is around 690. 

BUY COPPER ABOVE 695 SL BELOW 691 TGT 700/704

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