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Crude oil

Crude oil prices rallied in the evening session and closed around 6682 level. Prices was up by close to 2 percent. On daily chart RSI edged above its reference line and its moving higher indicating high momentum in prices. Moreover on daily chart it is trading above 20 and 60 EMA which is a positive sign for prices. Prices has formed a large green candle and has closed above its previous session high which is a bullish sign. Traders can buy Crude oil above 6700 for the target of 6750 on intraday basis.

BUY CRUDE OIL ABOVE 6700 SL BELOW 6650 TGT 6750/6800

Gold

Gold prices rallied in the evening session and settled around 60530 level. Prices was up by close to 1 percent. On daily chart momentum indicator RSI is trading flat indicating sideways trend for prices. However prices is trading above 9 and 20 EMA which is a positive sign. On daily chart prices is forming high high and higher low which is a positive sign. Traders can buy Gold above the strong resistance above 60600 for the target of 60750 on intraday basis.

BUY GOLD ABOVE 60600 SL BELOW 60450 TGT 60750/60900

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