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GOLD

Gold prices openeed with a downward gap and made new multi month low of around Rs 57650. Prices recovered and closed on a flat note around 58002 level. On the daily chart prices has formed a doji candlestick pattern near the strong spport zone indicating pause of the current downtrend. As long as 57650 level is intact on the downside we expect prices to trade in a range between 57650 and 58200 level in coming sessions. Buy on dips is recommended for intraday basis.

SELL GOLD AROUND 58450 SL ABOVE 58650 TGT 58200/58000

CRUDE OIL

Crude oil prices closed on a flat note in the last session around 5740 level. On the daily chart prices closed on a flat note. On the daily chart it managed to close above previous session high and has formed a doji candle indicating sideways trend for prices. Additionaly it managed to close above 9 EMA on the daily chart which is a positive sign for prices. As long as 5550 level is intact on the daily chart we expect prices to head towards 6000 leve in coming session.

SELL CRUDE OIL BELOW 5580 SL ABOVE 5620 TGT 5530/5480

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