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Published on 28/10/2020 5:41:24 PM | Source: Axis Securities Ltd

Sell Crude Oil In The Range Of 2840-2850 Sl AboveE 2880 TGT 2780/2750 - Axis Securities

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

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Silver

MCX Silver price has formed multiple resistance near 62600 and failed to break, price is expected to trade negatively. Any breakdown below 61700 next leg of the correction would drag down the price lower towards 61000/60700 levels in intraday. The momentum indicator RSI is trading at 3 it shows bearishness in prices. 

SELL SILVER BELOW 61700 SL ABOVE 62200 TGT 61000/60700


Crude Oil

MCX Crude oil price is trading at a descending broadening wedge pattern price is expected to trade negatively . Sustaining below 2840 next leg of the correction would drag down the price lower towards 2780/2750 levels in intraday. As the price has started trading below 60 EMA which is a bearish sign for the prices.

SELL CRUDE OIL IN THE RANGE OF 2840-2850 SL ABOVE 2880 TGT 2780/2750

 

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