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Crudeoil

MCX Crudeoil opened sharply lower with a downward gap and selling pressure throughout the session. The chart pattern suggests that if Crudeoil  breaks and sustains below 7400 level it would witness selling which would drag the price towards 7250-7150 levels. Important resistance for the day is placed at 7550.

SELL CRUDEOIL BELOW 7400 SL ABOVE 7500 TGT 7250/7150

Copper 

MCX Copper opened on a flat note and remained in a small range throughout the day. The chart pattern suggests that if Copper breaks and sustains below 725 level it would witness selling which would drag the price towards 720-716 levels. Important resistance for the day is placed at 730.  

SELL COPPER BELOW 725 SL ABOVE 728 TGT 720/716

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