The copper price retreated from the day`s high on Wednesday - HDFC Securities
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BULLION
Gold
Trading Strategy:
Gold April future is expected to trade in the range of 61750 to 62500 with moderate bearish bias. Sell Gold Apr Fut at 62250-62300 TGT 62080/61900 SL 62425.
Silver
Trading Strategy
Silver March future broke the support of 70700 in the previous session and is likely to fall further towards the 70020 level. Sell Silver Mar below 70500 TGT 70050 SL 70880.
MCX Crude Oil
Trading Strategy:
Crude oil March future has resistance at 6535 and support at 6380; the price is expected to trade in this range for the day. Market participants will focus on today’s government inventory report.
Natural Gas
Trading Strategy:
Natural gas prices rebounded from a recent low following news of production cuts by Chesapeake Energy Corp. It has resistance at 150/159 and support at 135/128.
Copper
Trading Strategy:
The copper price retreated from the day’s high on Wednesday. We anticipate the price will fluctuate in the range of 727 to 735 for the day. Sell Copper Mar Fut at 735 TGT 732.0/729 SL 738.
Zinc
Trading Strategy:
Zinc stuck in a narrow range from the last two sessions. The price is expected to correct towards the 209 level once it breaks support of 211.60. Sell Zinc Mar fut at 213.50 TGT 209 SL 215.50.
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