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Published on 14/01/2020 5:52:53 PM | Source: Axis Securities Ltd

Buy Crude Oil Above 4145 SL Below 4110 TGT 4190/4210 - Axis Securities

Posted in Commodities Reports| #Commodity Tips #Axis Securities Ltd

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Crude oil

Crude oil price is trading near down sloping trend line channel, price is expected to trade positive. Any break out above 4145 next leg of positive rally may push higher towards 4190/4210 levels, Alternatively 4110 remains strong support level in intraday. Price started trading above &21 EMA which is bullish sign for price. RSI is trading at 60 it indicates high momentum.

BUY CRUDE OIL ABOVE 4145 SL BELOW 4110 TGT 4190/4210

 

Silver

Silver price is trading under beaish momentum, price is expected to trade negative. Sustaining below 46000 next leg of correction would drag lower towards 45600/45400 levels. Price caught up with bearish signal since easing tension between U5 and Iran and on back of appreciatin of INR. On hourly chart price is trading below 60 EMA which is negative sign for price.

SELL SILVER IN THE RANGE OF 46050-46000 SL ABOVE 46350 TGT 45600/45400

 

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