Buy Crude Oil Around 5100 SL Below 5070 TGT 5130/5160 - Axis Securities
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Crude oil
Crude oil prices closed in red in last trading session. Prices was down by more than 2 percent. On hourly it closed around 5140 level. Moreover, on hourly chart prices has formed hammer candlestick patten followed by a green candle which indicate reversal from current downtrend. Traders may buy Crude oil around 5100 for the target of 5130 level on intraday basis.
BUY CRUDE OIL AROUND 5100 SL BELOW 5070 TGT 5130/5160
SILVER
Silver prices edged lower in last trading session after prices broke the support zone of 62000 level and drifted lower towards 61400 on intraday basis. On hourly chart price is trading below 20 and 60 days EMA. However price is trading above the strong support zone of 61000 level and RSI has edged above 40 level which indicate that prices may attract some buying interest. Dips around 61000 level may be used as an buying opportunity for the target of 61350 on intraday basis.
BUY SILVER AROUND 61000 SL BELOW 60700 TGT 61350/61650
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