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Published on 7/08/2020 4:38:28 PM | Source: Axis Securities Ltd

Sell Crude oil In The Range Of 3130-3140 SL Above 3170 TGT 3080/3050 - Axis Securities

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

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Crude oil

MCX Crude oil price is trading near support level of descending triangle pattern, price is expected to trade negatively. Sustaining below 3130 next leg of correction would drag down the price lower towards 3080/3050 levels in intraday. As price is trading below 9,21&60 EMA which is a bearish sign for prices. 

SELL Crude oil In The Range Of 3130-3140 SL Above 3170 TGT 3080/3050

 

Zinc

MCX Zinc price has formed multiple resistance near 192.30 and failing to break, price is expected to trade negatively. Any breakdown below 189.50 next leg of correction would drag down the price lower towards 188/187.50 levels in intraday. The momentum indicator RSI has formed lower lows and lower highs which bearishness sign for prices.

Sell Zinc Below 189.50 SL Above 190.50 TGT 188/187.50

 

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