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Gold

Gold prices closed on a positive note in the last session. Prices broke the resistance zone of 59000 level and closed above the mentioned level for the first time in more than 2 week which is a positive sign for prices. Settlement was around 59186 with a gain for more than 400 points. On the daily chart prices is trading above 20 and 60 EMA and RSI is above its reference line which indicate that momentum is strong for prices. Traders can buy Gold on dips around 58900 on intraday basis.

BUY GOLD AROUND 58900 SL BELOW 58700 TGT 59250/59500

Crude

Crude oil prices continued the positive momentum in the last session and recorded a new weekly high around 6240 level. Prices was up by close to 1 percent in the last session. On the daily chart it is trading above 20 and 60 ema. On the daily chart prices has given a symmetrical traingle breakout which is a bullish for prices. Traders may buy Crude oil on dips around 6150 for the target of 6200 on intraday basis.

BUY CRUDE OIL AROUND 6150 SL BELOW 6120 TGT 6200/6250

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