CRUDE OIL MARKET OVERVIEW
NYMEX Crude is in consolidation phase. Last week Crude Oil was not able to sustain neither on higher levels nor at lower levels. For the coming week 70$ and 75 $ will act as major supports and 95$ and 101.50$ a barrel will be a major resistance in NYMEX Crude. In MCX Crude Oil major resistance is found at 4300 and 4420 and major supports will be 3750 and 3550.
CRUDE OIL STRATEGY
For the next week traders can use buy on lower level strategy, if NYMEX Crude sustains above the level of 85.5 $ a barrel then above the level of 90.52 $ a barrel it can test the level of 91.5$/92.5$ a barrel and in MCX if Crude sustains above 4100 then above 4250 it can test the level of 4320/4360/4390 in this week. Trade by keeping the proper stop loss.
COPPER MARKET OVERVIEW
Copper is in a consolidation phase and traders should use the strategy of sell on higher levels. Last week COMEX Copper was down for most part of the week. If next week COMEX Copper sustains below the level of 405 then below the level of 390 Copper can test the level of 385/380/375. In MCX Copper sustains below 409 then it can test the level of 403/397 if it does not break the level of 416 on the upside.
COPPER STRATEGY
For the upcoming week 410 and 420 will act as major resistance and 380 and 365 will act as major supports in COMEX Copper. For MCX Copper major resistance would be 422 and 430 and supports would be found at 400 and 385.
NYMEX Crude is in consolidation phase. Last week Crude Oil was not able to sustain neither on higher levels nor at lower levels. For the coming week 70$ and 75 $ will act as major supports and 95$ and 101.50$ a barrel will be a major resistance in NYMEX Crude. In MCX Crude Oil major resistance is found at 4300 and 4420 and major supports will be 3750 and 3550.
CRUDE OIL STRATEGY
For the next week traders can use buy on lower level strategy, if NYMEX Crude sustains above the level of 85.5 $ a barrel then above the level of 90.52 $ a barrel it can test the level of 91.5$/92.5$ a barrel and in MCX if Crude sustains above 4100 then above 4250 it can test the level of 4320/4360/4390 in this week. Trade by keeping the proper stop loss.
COPPER MARKET OVERVIEW
Copper is in a consolidation phase and traders should use the strategy of sell on higher levels. Last week COMEX Copper was down for most part of the week. If next week COMEX Copper sustains below the level of 405 then below the level of 390 Copper can test the level of 385/380/375. In MCX Copper sustains below 409 then it can test the level of 403/397 if it does not break the level of 416 on the upside.
COPPER STRATEGY
For the upcoming week 410 and 420 will act as major resistance and 380 and 365 will act as major supports in COMEX Copper. For MCX Copper major resistance would be 422 and 430 and supports would be found at 400 and 385.
