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Gold

MCX Gold opened with an upward gap and witnessed selling for the first part of the session.The chart pattern suggests that if Gold crosses and sustains above 51250 level it would witness buying which would push It towards 51550-51650 levels. Important support for the day is around 51000.

BUY GOLD ABOVE 51250 SL BELOW 51000 TGT 51550/51650

Crude Oil

MCX Crudeoil opened with an upward gap and remained lackluster within a narrow trading range throughout the day. The price is moving in a Higher Top and Higher Bottom formation on the daily chart indicating a sustained up trend. Crude Oil is trading above 20,60&100 hourly SMA's indicating positive bias in the intraday.

BUY CRUDE OIL ABOVE 9020 SL BELO 8900 TGT 9150/9200

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