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Published on 22/09/2020 10:10:07 AM | Source: Axis Securities Ltd

Buy Gold Around 50000 SL BELOW 49900 TGT 50100/50250​​​​​​​ - Axis Securities

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

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Gold

Gold prices crashed in last session after it broke the support zone of 51400 and drifted lower towards 50000 levels.Prices managed to recover up till 50400 level. On hourly chart prices has formed Spinning top candlestick pattern followed by a green candle which indicate that short covering is possible from current level. Traders can buy Gold on dips around 50000 level for the target of 50100 on intraday basis.

BUY GOLD AROUND 50000 SL BELOW 49900 TGT 50100/50250

 

Crude oil

Crude oil prices corrected in last session after prices broke the strong support zone of 3000 and driftd lower towards 2870 level on intraday basis. However, prices is trading around the strong support zone of 2880 level. It is also trading above lower bollinger band which indicate decreased in voatiltiy in prices. Traderes can buy Crude oil only if it sustain aboe 2900 on hourly basis for the target of 2930 level on intraday basis.

BUY CRUDE OIL ABOVE 2900 SL BELOW 2870 TGT 2930/2960​​​​​​​

 

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