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GOLD

MCX Gold opened with an upward Boe eS and remained in positive terrain throughout the day. The daily strenghth indicator RSI is moving upwards and is above its reference line indicating positive bias. Gold continues to remain in an uptrend for the short term,so buying on dips continues to be our preferred strategy.

Buy Gold Above 50600 SL Below 50400 TGT 59000/51000

Crudeoil

MCX Crudeoil opened on a positive note and extended buying momentum in the first half. The chart pattern suggests that if Crudeoil crosses and sustains above 6850 level it would witness buying which would push the It towards 7000-7100 levels. Important support for the day is around 6600. 

BUY CRUDEOIL ABOVE 6850 SL BELOW 6750 TGT 7000/7100

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