Buy Crude Oil Around 5660 SL Below 5600 TGT 5720/5780 - Axis Securities
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GOLD
Gold prices opened with a gap and closed around 58400 with a gain of 100 points. On the daily chart prices has closed within previous session high indicating sideways trend for prices. Strong support zone is seen around 58000 level. We expect prices to trade in a broad range between 58000 and 58800 level for this week. Bias remains sideways to positive for prices.
BUY GOLD AROUND 58400 SL BELOW 58200 TGT 58650/58900
CRUDE OIL
Crude oil prices opened with a upward gap and closed around 5737 with a gain of rmore than 50 points. On the daily chart prices has formed a green candle followed by a dragonfly doji indicating possible reveresal of the current downtrend. Prices has closed above previous session high which is a positive sign for prices. As long as 5500 level is intact on the downside we expect prices to head towards 5950 level in coming sessions.
BUY CRUDE OIL AROUND 5660 SL BELOW 5600 TGT 5720/5780
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