Buy Crude Oil Around 6400 SL Below 6350 TGT 6460/6520 - Axis Securities
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SILVER
Silver opened with a downward gap and closed on a flat note in last session. Silver closed at 60668 with a loss of 259 points. The daily strength indicator RSI is moving downwards and is quoting below its reference line indicating negative bias. On the daily chart the It has formed a small bullish candle with a long lower shadow indicating buying at the lower levels. On hourly chart Silver is trading above 20 and 9 day EMA's indicating positive bias in the short term. Silver continues to remain in an uptrend for the short term, so buy on dips continues to be our preferred strategy
BUY SILVER AROUND 60400 SL BELOW 60000 TGT 60800/61200
CRUDE OIL
Crude oil prices traded with extreme volatility in last session and closed on a positive note. Crude Oil closed at 6575 with a gain of 117 points. The daily strength indicator RSI continue to remian flat and is below its reference line indicating absence of momentum on either side. On the daily chart the It has formed a Bullish candle with a long lower shadow indicating buying at lower levels. On hourly chart Crude Oil is trading above 20 and 9 day EMA's indicating positive bias in the short term. Any correction in prices can be used as an buying opportunity in Crude oil.
BUY CRUDE OIL AROUND 6400 SL BELOW 6350 TGT 6460/6520
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