Buy Gold Around 50500 SL Below 50300 TGT 50700/5800 - Axis Securities
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GOLD
Gold prices traded volatile in last session. Prices made a new multi month high of 52800 level however it failed to sustain around the mentioned level and closed around 51500. Comex Gold is trading lower by almost $18 dollar from yesterday closing. We may expect Gap down opening in Gold Strong support is seeen around 50500 which can be used as an buying opportunity
BUY GOLD AROUND 50500 SL BELOW 50300 TGT 50700/5800
CRUDE OIL
Crude oil prices gave a gap up opening and it was up by more than 5 percent in last session. On Weekly chart prices closed above 7000 level for the first time in 8 years which is a bullish sign for prices. Traders can buy Crude oil around 7300 for the target of 7340 on intraday basis.
BUY CRUDE OIL AROUND 7300 SL BELOW 7270 TGT 7340/7400
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