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GOLD

Gold prices snapped its losing streak in the last session. Prices closed around 58300 level and was marginally up by 0.12 percent. On the daily chart prices has formed a inverted hammer around the strong support zone of 58000 level which indicate possible reversal of the current downtrend. On the daily chart RSI is trading near the oversold zone of 32 level which indicate a possible puase in current downtrend. Traders can buy Gold around 58400 for the target of 58650 for intraday basis

BUY GOLD AROUND 58400 SL BELOW 58200 TGT 58650/58900

CRUDE OIL

Crude oil prices closed on a flat note in the last session. Prices settled around 5681 and was marginally down by 0.18 percent. On the daily chart it has formed a dragon fly doji near the strong support zone indicating possible reversal of the current downtrend. If prices is able to hold the level of 5550 then we may expect short covering in prices up till 5800 level for this week

BUY CRUDE OIL AROUND 5640 SL BELOW 5580 TGT 5700/5760

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