Buy Crude Oil Around 5630 SL Below 5580 TGT 5690/5800 - Axis Securities
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
https://t.me/InvestmentGuruIndiacom
Download Telegram App before Joining the Channel
Gold
Gold prices closed flat in the last session, remaining under pressure throughout the day. The much-awaited Federal Reserve meeting has concluded, marking the first pause in interest rates in 16 months. However, the Fed chairman indicated the possibility of two more rate hikes this year based on market health and economic data. This news negatively impacted Gold prices in the COMEX market, reinforcing the overall bearish sentiment. It is recommended to sell on rallies for intraday trading in Gold
SELL GOLD AROUND 59450 SL ABOVE 59600 TGT 59250/59000
CRUDE OIL
Crude oil prices ended the session on a downward trajectory, failing to maintain higher levels and settling around 5645, reflecting a decrease of over 1.5 percent. The overall price pattern remains bearish, with the commodity trading below the 20 and 9 exponential moving averages (EMA), and the relative strength index (RSI) positioned below its reference line on the daily chart. However, there is a demand zone observed around the 5500 level. As long as this mentioned level holds as support, there is an expectation for prices to rally up to 6000 in the coming weeks. Therefore, it is advisable to consider buying on
BUY CRUDE OIL AROUND 5630 SL BELOW 5580 TGT 5690/5800
To Read Complete Report & Disclaimer Click Here
For More Axis Securities Disclaimer https://simplehai.axisdirect.in/disclaimer-home
SEBI Registration number is INZ000161633
Views express by all participants are for information & academic purpose only. Kindly read disclaimer before referring below views. Click Here For Disclaimer
