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GOLD

Gold prices rallied higher in the last session and extedned its winning streak for two days in a row. Prices rallied higher by more than 0.50 percent and closed around 60100 level. On the daily chart it is trading above 20 and 60 EMA and RSI is also above its reference line which indicate that momentum is strong on the upside. Immediate resistance zone is seen around 60150 level. Breakout above the mentioned level may push prices higher towards 60350 level on intraday basis.

BUY GOLD ABOVE 60150 SL BELOW 60000 TGT 60350/60500

CRUDE OIL

Crude oil prices rallied in the last session as it extended its winning streak for three days in a row. Prices made a new multi month high of around Rs 6700 level. On the daily chart is is trading above 20 and 60 EMA and RSI is also above 60 level which indicate that momentum is tilted towards upside. Traders can buy Crude oil on dips around 6620 for the target of 6700 for intraday basis.

BUY CRUDE OIL AROUND 6620 SL BELOW 6570 TGT 6700/6800

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