Buy Gold Around 48000 SL Below 47900 TGT 48100/48200 - Axis Securities
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Gold
Gold prices edged higher in last trading sesson after prices broke the resistance zone fo 48000 level and closed around 48200 level. Prices closed above 48100 level for the first time in almost 2 months which is a bullish sign for prices . Moreover momemtum is strong for prices as RSI is also above 60 level. Traders can buy Gold around 48000 level for the target of 48100 on intraday basis
BUY GOLD AROUND 48000 SL BELOW 47900 TGT 48100/48200
Crude oil
Crude oil prices gave a gap up in last trading session and it touched new 52 week high of 6428 level. However it failed to sustain near the mentioned level and closed around 6300 level. It closed below 9 and 20 days which indicate that selling pressure is strong near the higher level. Any rallied towards 6350 may be used as an selling opporutnity for the target of 6320 level on intraday basis.
SELL CRUDE OIL AROUND 6350 SL ABOVE 6380 TGT 6320/6280
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