Buy Gold Above 50650 SL Bellow 50450 TGT 50900/51000 - Axis Securities
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Gold
MCX Gold opened on a flat note and buying momentum throughout the session. The hourly strength indicator RSI has turned positive from the oversold territory 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 50650 SL BELLOW 50450 TGT 50900/51000
Crudeoil
MCX Crudeoil opened on a flat note and witnessed selling for the first part of the session. The chart pattern suggests that if the Crudeoil breaks and sustains below 7550 level it would witness selling which would drag It towards 7400/7350 levels. Important resistance for the day is placed at 7850.
SELL CRUDEOIL BELOW 7550 SL ABOVE 7650 TGT 7400/7350
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