Crude Oil declined in the session ending 1 Feb 2017 and ended with correction to the tune of 0.80%. The prices of Crude Oil ended the session at INR 3585 per barrel, down INR 29. The benchmark expiry contract of Crude Oil tested a high of INR 3628 per barrel. A low of INR 3568 per barrel was registered during the day. Losses in Crude Oil can take prices towards Rs 3500 and 3480 per barrel. On the higher side Rs 3650 and 3700 per barrel are the noted resistances. 

Gold Gains was noted in the prices of MCX Refined gold. Levels of INR 28843 per 10 grams was noticed during the closing, with an uptick of 0.34%. The prices declined below INR 29000 per 10 grams but further appreciation is very much possible in Gold. If gains occur from here it can take yellow metal towards INR 29000 and 29200 per 10 grams. On lower side, Gold will be supported at Rs 28600 per 10 grams. The high of Gold was at INR 29105 per 10 grams and a low of INR 28800 per 10 grams was tested during the day. The prices closure above INR 29000 per 10 grams will be critical.  

Copper ended the session on 1 Feb 2017 at INR 403.25 per kg. The prices tested a high of INR 408.30 per kg and a low of INR 402.65 per kg. Technical charts suggest that breach below INR 400 per kg will be damaging for Copper. Indian Copper breached important levels of Rs 405 during the week but was not able to move past the next hurdle of Rs 410 per kg. Further appreciation from here can take prices close to INR 410 and 412 per kg in medium term. On the lower side Rs 400 and 398 per kg are supports. The ideal strategy can be to buy Copper on declines. Buying from Rs 400 and 398 is expected in Copper today.