Buy Gold Around 59500 SL Below 59300 TGT 59750/60000 - Axis Securities
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Gold
Gold prices closed on a negative note in the last session, with prices down by almost 400 points. Prices encountered resistance around the 59900 level, which coincides with the 9 EMA on the daily chart. On the daily chart, prices are trading below the 20 and 60 EMA, and the RSI is trading flat, indicating a sideways trend for the price. Prices broke the strong support zone of 59300 and closed below it which is a negative sign for prices. Sell on rise is recommended in Gold for intraday basis
BUY GOLD AROUND 59500 SL BELOW 59300 TGT 59750/60000
CRUDE OIL
Crude oil prices snapped its losing streak in the last session and closed around 5736 with a gain of more than 150 points. On the daily chart prices has formed bullish peircing pattern near the strong support zone on the daily chart which is a positive sign for prices. If prices is able to hold the strong support zone of 5500 level then it may rally higher up till 6000 level is coming few sesison.
BUY CRUDE OIL AROUND 5660 SL BELOW 5600 TGT 5720/5800
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