Buy Crudeoil Above 8140 SL Below 8000 TGT 8350/8400 - Axis Securities
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Gold
MCX Gold opened with a downward gap but witnessed buying from the day's low. Since last session it has been consolidating within a broad range of 51000-50500 levels hence any either side breakout of range will ignal further direction. The hourly strength indicator RSI has turned positive from the oversold territory and is above its reference line indicating positive bias.
BUY GOLD ABOVE 51000 SL BELOW 50800 TGT 51250/51400
Crude Oil
MCX Crudeoil opened with an upward gap and remained in positive terrain throughout the day. The chart pattern suggests that if Crudeoil crosses and sustains above 8140 level it would witness buying which would lead the It towards 8350-5400 levels. Important Support for the day is around 7900.
BUY CRUDEOIL ABOVE 8140 SL BELOW 8000 TGT 8350/8400
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