Sell Gold Around 46400 SL Above 46500 TGT 46300//46200 - Axis Securities
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GOLD
Gold prices drifted lower in last trading session after it broke the 46400 and closed around 46200 level. Overall trend is looking negative for prices as it is trading below 9 and 20 days EMA on hourly chart and RSI is below 40 level indicating low momentum in price. Traders can sell Gold on rise around 46400 for the target of 46300 on intraday basis.
SELL GOLD AROUND 46400 SL ABOVE 46500 TGT 46300//46200
Crude oil
Crude oil prices closed on a flat note in last trading session near 4622 level. On hourly chart we have observed divergene in prices with RSI which indicate profit booking from the current level. On Nymex Crude oil on daily chart is making evening star candlestick pattern which will be confirmed my day end. Prices will be under pressure today as World markets are also down. Traders can sell Crude oil below 4620 for the target of 4590 on intraday basis
SELL CRUDE OL AROUND 4620 SL ABOVE 4650 TGT 4590/4550
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