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Published on 19/11/2020 11:40:46 AM | Source: Axis Securities Ltd

Sell Nickel Below 1180 SL ABOVE 1183 TGT 1177/1173 - Axis Securities

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

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Crude oil

Crude oil prices edged higher in last trading session after price broke the strong resistance zone fo 3085 and rallied higher up till 3130 level. Overall trend is looking positive for prices as on hourly chart it is trading above 9 and 20 daya EMA and RSI is above 60 level indicating high momentum in prices. Any correction down till 3085 can be used as an buying opportunity for the target of 3115 level on intraday basis.

BUY CRUDE OIL AROUND 3085 SL BEOW 3055 TGT 3115/3145

 

Nickel

Nickel prices traded volatile in last trading session. Prices closed in red around 1183 level. On hourly chart prices is trading below 9 and 20 days EMA and RSI is nearing 40 level which indicate low momentum in prices. Strrong support zone can be seen around 1180 level. Breakdown below the mentioned level may push prices lower towards 1177 level on intraday basis.

SELL NICKEL BELOW 1180 SL ABOVE 1183 TGT 1177/1173

 

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