Buy Gold Above 44700 SL BELOW 44600 TGT 44800/44900 - Axis Securities Ltd
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GOLD
Gold prices rallied higher in yesterday session after prices respected the suppott zone of 44300 and was able to bounce back from that level. Moreover on Daily chart prices has formed hammer candlestick pattern at the bottom indicating possible reversal of the current downtrend. Prsently prices is in a oversold territory. Traders can buy Gold above 44700 level for the target of 44800 level on intraday basis.
BUY GOLD ABOVE 44700 SL BELOW 44600 TGT 44800/44900
CRUDE OIL
Crude oil prices have sky rocketed in past 2 session by more than 7 percent after the OPEC outcome. Prices has broken the strong resistance zone of 4675 and has touched 52 week high of 4845 level. Short term trend is bullish for prices as it is trading above upper bollinger band on daily chart indicating high volaitlity in prices and RSI is also above 60 level indicating high momentum in prices. Traders can buy Crude oil above 4845 for the target of 4875 level on intraday basis.
BUY CRUDE OIL ABOVE 4845 SL BELOW 4815 TGT 4875/4900
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